Offsetting of capital gain by purchasing assets

ITR Filing 1025 views 2 replies

Nagesh Rao

Others

25 Points Posted on 18 June 2013

Dear all,

I sold my old house property and purchased a new one. U/s 54, I can offset capital gains from sale of house with expenditure on purchase of new house. However, I could not find the space in ITR 2 where I can fill these details for reporting purpose. Secondly, I retired from Armed froces last february and though the retirement benefits are not taxable, i want to show the amount for reporting purpose only.

Please help me by confirming the relevant spaces in ITR 2 where i can fill the above details.

Thanks in advance

Replies (2)

shivam gupta

Student

142 Points Posted on 18 June 2013

Long term capital gain
1.	From Asset in case of non-resident to which first proviso to section 48 applicable
2.	From asset in the case of others where proviso under section 112(1) is not applicable
	a	Full value of consideration		2a	Fill here
	b	Deductions under section 48
		i	Cost of acquisition after indexation	bi	Fill Here
		ii	Cost of improvement after indexation	bii	Fill Here
		iii	Expenditure on transfer	biii	Fill Here
		iv	Total (bi + bii +biii)	biv
	c	Balance (2a – 2biv)		2c
	d	Deduction under sections 54/54B/54D/54EC/54F 54G/54GA/54GB		2d	Fill Here
	e	Net balance (2c – 2d)