1) agreement for sale of inherited property purchased before 2001 is of rs 4400000/-
2) municipal value is rs 3800000/-
3) share of 4 sellers is 25 percent each i.e each seller recived 1100000/-
4) there is only one buyer who pays 1100000/- to each seller
5) year of sale is 31/3/2021
please guide what amounts have to be filled in itr2 for ( in sellers & as well as buyers column in capital of gains in itr2) by each individual seller )
Menu
Filing of itr2 for AY 2021/22
Replies (12)
Sale value should be apportioned to 4 sellers as per 25% each of 4400000 rupees
municipal value also be deducted as per 25% each for 4 sellers
Buyer should be allocated 4400000 rupees in whole as there is only one buyer
municipal value also be deducted as per 25% each for 4 sellers
Buyer should be allocated 4400000 rupees in whole as there is only one buyer
As for sellers part 25 percent allocation is correct.
I think for buyers side each seller has to file his share amount of 1100000/- in value column and 100/- percent share in percentage of share sold......by each seller in itr2
I want clarification on how each seller will fill itr2 in buyers information of percentage share column and value column
As for sellers part 25 percent allocation is correct.
I think for buyers side each seller has to file his share amount of 1100000/- in value column and 100/- percent share in percentage of share sold......by each seller in itr2
I want clarification on how each seller will fill itr2 in buyers information of percentage share column and value column
As for sellers part 25 percent allocation is correct.
I think for buyers side each seller has to file his share amount of 1100000/- in value column and 100/- percent share in percentage of share sold......by each seller in itr2
I want clarification on how each seller will fill itr2 in buyers information of percentage share column and value column
Each seller should report 1100000 rupees each in sales consideration and municipal value shall also be as per share
& percentage of share sold should be 100 percent ?? ( For above clarification)
Yes 100% in each partner ITR
Ok thx for sharing information....thx
Even I am of same opinion....thx a lot
Your welcome
In this case the problem will be on arriving at the cost of acquisition. It will be fair market value as on 01 Apr 2001 with appropriate indeexation. How to arrive at a fair market value as on 01 Apr 2001.
Valuation report of incomtax registered valuer
Recent Threads
- Un claim ITC
- Form 49AA - OCI card holder applying for PAN card
- Section 54f and Sale between father and Son.
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
Related Threads
CAclubindia
