Shantinath Patil (42 Points)
06 July 2022in FY 2020-21 I had received money by selling real estate. I opened capital gain account and ustilsed full amount as per provision. Now my CG account is having only Rs 10. I need to close the account after getting AO approval. Should i use ITR-1 or ITR-2 for filing my returns this year
CA Puja Sharma
(Chartered Accountant)
(4874 Points)
Replied 06 July 2022
Choice of ITR will depend upon your source of income whether it's only salary and other sources upto Rs. 50 Lakhs.
If you have capital gains to report then use ITR 2
Shantinath Patil
(42 Points)
Replied 06 July 2022
Thank you Puja. AY2021-22, I had the LTCG, I used ITR2. This year no any capital gain in my income. So I can go back to ITR1 or I should use ITR2 and show that the proceedings has been utilised for construction of house. Thanks once again
Shantinath Patil
(42 Points)
Replied 06 July 2022
Thank you Puja. AY2021-22, I had the LTCG, I used ITR2. This year no any capital gain in my income. So I can go back to ITR1 or I should use ITR2 and show that the proceedings has been utilised for construction of house. Thanks once again
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 06 July 2022
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