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Regarding Capital Gain

Kamlesh Tolani (accountant) (562 Points)

23 October 2019

Respected all member
One of capital gain not show f.y.2018-19 return filed now what treatment

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6 Replies

Bharat Bohra (306 Points)
Replied 23 October 2019

Revise the return and show now..

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Kapadia Pravin (17259 Points)
Replied 23 October 2019

File revised return immdly .

Which ITR you filed earlier ? Now you may have to file different ITR.

May have to pay SATax if Gain. And you won't be allowed to carry forward loss if it's Loss.

rama krishnan (12234 Points)
Replied 23 October 2019

Revise your return of income on or before 31 March 2020

Kapadia Pravin (17259 Points)
Replied 23 October 2019

You can revise upto 31-3-2020 but that will be more costly as you require to pay interest.

Even though no penal interest applies on self-assessment tax till the deadline of filing ITR, taxpayers will have to pay penal interest on shortfall of advance tax payment. It continues to apply at 1 percent a month starting from the date it originally became payable.

Better to file afap.. No advantage in delaying