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Regarding Non Decided Land

Prakash Chandra (191 Points)

18 November 2019

how to declare omitted land in itr3 for individual

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171267 Points)
Replied 18 November 2019

Which Assessment year?

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Prakash Chandra (191 Points)
Replied 18 November 2019

FY 2018-19, but land purchase in 2008, 2009, some father's land transfer in 2013

Kapadia Pravin (17259 Points)
Replied 19 November 2019

You mean to say in the Balance sheet. Right !
If lands are in individual name as an investment and not a part of business assets (if any) then you may not include in Balance Sheet of ITR3.

But if you included in last year, you have to continue .

For inclusion of omitted land , you can simply file revised return under 139(5) upto 31-3-2020.