Which itr to be used if there is no cg tax payable after adj

Jaikiran (Finance Professional) (133 Points)

22 July 2017  

Hi,

A person receiving pension had sold a property and purchased another residential property within the same year. Now after utilizing the LTCG scheme, there is no capital gains tax liability to be paid. Now to show the same to IT department, should he file ITR2 by mentioning the sale and purchase proceeds or ITR1 is enough as ITR2 is for those who have Capital Gains. 

Kindly clarify. Thanks in advance.