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.
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- TDS Challan Code
- Lease agreement and tax on sale
- CCFS 2026 Schemed
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
