Air information in itr


This query is : Open 

(Querist)
23 May 2013 I. Tax Return (ITR) require assessees to give information about certain transactions entered into during the previous year, which are reportable in the AIR u/s.285BA.
My query is, if an individual and his spouse jointly purchase an immovable property (say) for Rs. 40 lacs and the share of each is 50% i.e. Rs. 20 lacs each.
My query is whether this information is required to be given in ITR by both individually?

23 May 2013 ITR for assessment year 2013-14 do not carry the Annual Information Return (AIR) blocks.

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Guest (Expert)
24 May 2013 The limits of AIR is applicable on individual basis

Rachit (Querist)
24 May 2013 Since the ITR for AY 2013-14 does not have (AIR) blocks, then in what way the assessee should intimate the dept. about the said information


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