TAX ON SALE OF PROPERTY, Income Tax

[pradeep kumar l]

Sir, In AY 2015-16, I have paid income tax for the receipt of share of amount against sale of property. Part of the amount was credited in my Bank account only in 2016-17 (in April 2015). Now in my ITR for AY 2016-17, there is a query for the amount credited in the bank account. Shall I reply that this is the amount received as against the transaction shown in my ITR for AY 2015-16 and tax has been paid for that transaction?

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

Yes. You may reply with documentary evidences and calculations for the year in which you have paid tax in full.