Never filed it return.

Need some advice here please..

Over three years ago, I disposed a plot gifted to me by my father in order to construct a house on my husband's plot. But all the sale money has been just sitting in bank FDs due to my ignorance..all these days. It took us so long to get my husband's plot regularised and get permissions for building a house. We may not need that money as my husband is eligible to get home loan now. What are my options now.. I am a housewife whose only income is interest from my bank FDs Should I pay capital gains tax? Can I still put the sale money in tax saving bonds and avoid tax?

Please advise.

Thanks

Vanisree.

asked Apr 26 '12 at 17:39 by vsree13 111


As already long time has passed, there is no way to save income tax on capital gains now.

If income tax department sends out a notice to you, you would have to pay whole income tax plus interest penalty for late payment. There won't be any other option left.

answered Apr 27 '12 at 13:27 by Pankaj Batra 5.2k320

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Asked: Apr 26 '12 at 17:39

Seen: 1,107 times

Last updated: Apr 27 '12 at 13:27