Capital Gain without any CG

ITR 157 views 6 replies
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42 Points Joined July 2022

in 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

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On 06 July 2022 at 11:07 Report
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Chartered Accountant
5010 Points Joined March 2020

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

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On 06 July 2022 at 13:22
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42 Points Joined 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

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On 06 July 2022 at 16:01
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42 Points Joined 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

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On 06 July 2022 at 16:01
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Chartered Accountant
86505 Points Joined April 2011
Use ITR-1 for current year
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On 06 July 2022 at 22:20
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42 Points Joined July 2022

Thanks. I will use ITR1

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On 07 July 2022 at 08:45
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Chartered Accountant
86505 Points Joined April 2011
Welcome Dear......,
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On 08 July 2022 at 07:30


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