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.
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