Selling Land Selling Land

5 years ago

After Selling a land , let say that land got sold for 15 Lacs then if we share that money in three parts and need to keep that in a bank in our individual accounts(like 5lacs in each account), do we need to pay income tax immediately after receiving it from buyer ?

Kishan Dutt Kalaskar

Responded 5 years ago

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A.Dear Sir,
Please consult the Chartered Accountant.
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Rameshwar Dadhe

Responded 5 years ago

A.U can submit Ur sale deed copy to IT department
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Rameshwar Dadhe

Responded 5 years ago

A.Yes u will show it income generation source in years ending
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Anonymous

Replied 5 years ago

What I need to show them ? The copy of bond made while selling a land ? Or directly need to pay income tax for that ?

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