Long term capital loss on property
This query is : Resolved
28 July 2022
A property in possession of 1997 of Rs. 49 L sold on Mar 22 at Rs. 51.50 L arising a LTCL of Rs. 5.60L ( as per indexation available). Assessee further bought another property in Mar 22 (same month after the date of sale) at Rs.66 L. How to show the property purchased in income tax return (as it is appearing in TIS of income tax authority) as there is no capital gain which is reinvested. Please advice. Thanks in advance
28 July 2022
No need to declare the purchase of property in ITR unless you are liable to fill BS or schedule AL.
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