1. In AY 2020-21 Form 24AS, I have been reported for SFT for selling our old house of which I received a share.
2. Since 2019, I had been paying installments to purchase my new Flat whose registration will be done in Feb '21. So CBDT will again report SFT in AY 2021-22 for purchasing my Flat.
My query is:
Should I inform the selling and buying of property (with whatever installment payments done) in Capital Gains section of AY 2020-21 ITR or in the ITR of AY 2021-22 with the full payment amount?
Thanks in advance!
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Help needed in quoting Capital Gains
Replies (3)
Quick Summary
As you sell your house in ay 2020-21 capital gain report will be shown in that year
and you complete your purchase in next year so your calculations of income in next year will be done keeping the purchase value in mind so that you don't have to face problem
and you complete your purchase in next year so your calculations of income in next year will be done keeping the purchase value in mind so that you don't have to face problem
Thank You for your reply!
A small rectification.
I have already sold the old house and also have been reported for SFT in this year's (i.e. FY 2019-20) Form 24AS.
Also I have made a few payments towards purchasing a new Flat which started in 2018 and will complete in 2021.
Under these circumstances, in which year's (this year or next year) ITR should I inform about the selling and purchasing?
I have been reported for SFT in this year's Form 24AS. Can I mention the payment received in next year's ITR? Will 1 year be allowed by CBDT?
SFT - Applicable from this year!
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