POSTED BY June 25, 2012 5:04 pm ONE COMMENTON
I had purchase a Land for 1,20,000/- and Did NA ( Non Agriculture ) I have paid all the money in Cash for NA. In my Purchase Agreement the Value Purchase is given 1,20,000/- only but the NA Land Value is Rs.6.15,000/- Now I Sold after 2 month for Rs.6,00,000/- and the the sale agreement is mentioned the fullamount of Rs.6,00,000/- ( Rs. 4 Lakh Cheque & 2 Lakh Cash ) is mention in the sale agreement 7 it is registerted. How Much Income tax I have to Pay. I have spend Cash for NA to make Rs 50,000/- but I dont have any paper work. Please Advise me How can I save income tax. Please give me the figure How much actual to pay.
I Have not Filed My Income Tax Return Since 4 years also my Salary income for 3 years was not Taxable. for 1 year my salary income was Taxable Rs, 20,000/-Month.
I want to file all my returns as soon as p[ossible please advice me a CA. I am residing at THane west. Mumbai