Manoj Punjabi (Accountant) (220 Points)
13 May 2023I sold residential property in FY 22-23.
Full capital gain reinvested in same year.
My question is:
Do I have to report all figures of purchase and sale of residential property in IT returns even though full capital gain is reinvested in another property.
Please guide.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 13 May 2023
Yes, you have to report the capital gain and in case of LTCG, exemption claim under sec. 54 of IT act.
CAclubindia
