Filling itr
This query is : Open
24 July 2018
X PURCHASED A PROPERTY AND DEDUCTED 1% TDS AND DEPOSITED THE SAME WITH INCOME TAX IN TIME. THE TRANSACTION APPEARS IN
26AS STATEMENT . OF X. NOW X HAS TO FILE ITR 3.
IT MAY BE ADVISED IN WHICH SECTION/COLUMN OF ITR 3 FOR ASSESSEMENT YEAR 2018-19, X SHOULD REFLECT THE PURCHASE OF THAT PROPERTY
26AS STATEMENT . OF X. NOW X HAS TO FILE ITR 3.
IT MAY BE ADVISED IN WHICH SECTION/COLUMN OF ITR 3 FOR ASSESSEMENT YEAR 2018-19, X SHOULD REFLECT THE PURCHASE OF THAT PROPERTY
24 July 2018
Add the property in the balance sheet.
24 July 2018
The assessee is an individual and is showing only presumptive income. He has some capital gain also due to which he is filing ITR 3 instead of ITR 4.
In fact main query is whether purchase of property is required to be shown anywhere in ITR Returns. There is also a case, who has salary income only and filing ITR-1. He has also purchased property and wants to know where in ITR -1 he should show purchase of property for which he has deposited TDS with the Income tax Department.
Thus, the query is where purchase of property is shown in ITR forms.
In fact main query is whether purchase of property is required to be shown anywhere in ITR Returns. There is also a case, who has salary income only and filing ITR-1. He has also purchased property and wants to know where in ITR -1 he should show purchase of property for which he has deposited TDS with the Income tax Department.
Thus, the query is where purchase of property is shown in ITR forms.
25 July 2018
Those earning income below 50 lacs need not show assets in ITR. If still wanted to show, show it in assets and liabilities schedule.
25 July 2018
Thanks.
It is presumed that purchase of property in a case where income is below 50 lakh is not shown in ITR
It is presumed that purchase of property in a case where income is below 50 lakh is not shown in ITR
25 July 2018
Yes,......
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