SALE PROCEEDING

Querist : Anonymous (Querist) 29 October 2010 This query is : Resolved
I purchased a plot in the year 2000 and the same has been sold in the year 2008. I have invested the entire sale proceeding in RURAL ELECTRICITY BOND(locking period of 3 years) in three months time from the date of sale. I am showing the interest amount received, in my income from other sources, for the tax computation purpose. I did not declare this CAPITAL GAIN in my return. The same was brought to the notice of the income tax official by me during my recent visit to the office. Is this a problem?

regards

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