i have received a notice as i have not filed itr in 2015, my ques is i sold the property in which cap gain arises i was the sole owner, for cap gain exemption i purchased the property in joint ownership.
my ques is will i get half cap gain exemption as my second purchase was joint ownership, or i can claim full cap gain exemption
second will they consider my point of cap gain?? can they say u have not filed the itr so it will be considered as nothing has been done from your part and pay full tax on property sold....as i have not filed the itr,
third what can be the penelty for non filing of itr.
thnx
CAclubindia
