ITR2 - Property - Purchaser Details - Purchase Amount

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This discussion clarifies how to report buyer details and the purchase amount when filing an ITR2 for a property sale. The user sold a property with their brother and is unsure whether to enter the full sale consideration of Rs.60,00,000 or their individual apportioned share of Rs.30,00,000 in the buyer details section. The advice given is to show the apportioned amount of Rs.30,00,000 as the sale value in the ITR.

Krishnan

Krishnan (Querist)
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22 November 2020 Me and my brother sold a property for a sale consideration of Rs.60,00,000. LTCG after indexation comes to Rs.20,00,000. In ITR2, in Sec. CG, under B.1.f, where one has to provide the buyer details, can you please advise what should be the purchase amount to be provided? Would it be full Rs.60,00,000 or apportioned amount of Rs.30,00,000 as me and my brother would be showing only our share of the deal (sale amount, cost amount etc.) in Schedule CG.