Capital Gain on sale of joint property
This query is : Resolved
26 December 2023
Dear Experts,
One joint property is sold in FY 2022-23. Accordingly in ITR of individual owners only 50% respective share is shown under Full consideration and cost of acquistion.
However in AIS, entire sale amount is showed for both the owners.
Now there is SMS received from Income tax regarding high value transaction reporting whether the same is correct or not. Please advice whether ITR was correctly filled in this case? If yes/no , what further compliance needs to be done
Regards,
One joint property is sold in FY 2022-23. Accordingly in ITR of individual owners only 50% respective share is shown under Full consideration and cost of acquistion.
However in AIS, entire sale amount is showed for both the owners.
Now there is SMS received from Income tax regarding high value transaction reporting whether the same is correct or not. Please advice whether ITR was correctly filled in this case? If yes/no , what further compliance needs to be done
Regards,
26 December 2023
ITR was rightly filed.
Login to income tax portal and respond to AIS wrong reporting.
Login to income tax portal and respond to AIS wrong reporting.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- GST ITC REVERSE
- Fixe term employment
- Withdrawal in cash from partners capital account by partner
- TDS on TRUST
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- New GST registration for new place of business.
- Starting trading business
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
CCI
Pro
CAclubindia
