The person has sold the property for 49,75,000 in Jan 2022 and immediately in Feb 2022 invested for purchasing the construction property value 1,29,86,800 (which he will reason possession in 2025 ). In AIS Statement the amount 38,00,000 is reelecting as he has purchased the property, but in real sense he gave that amount as down payment as the builder as raised the pillar.
How to treat this scenario as AIS statement is showing purchase value as 38 lakhs and sale value as 4975000 .
He did not opened Capital Gains account , the sale value amount transferred to his savings account?
CAclubindia
