Itr form to be used

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Mohan (Querist)
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10 June 2013 I am a normal salaried individual. I sold a property this year and the (long term) capital gains that I made on this sell were reinvested long term capital gains reinvestment bonds. Hence, I did not have to pay any tax on the same.

Q1. Now which ITR form do I fill - ITR1 or ITR2?
Q2. Is there any penalty if I fill ITR1 form?
Q3. If I fill ITR2 form, will I have to disclose my property and bond details?
Q4. Will filling ITR2 make the chances of my IT case opening more? Can I fill ITR1 so that the chances of a scrutiny are less? If the case opens will there be any penalty. Please note that I am not evading any tax.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 June 2013 1.Need to file ITR-2
2. No penalty for filing return before due date

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