Housewife sold ancestral property for 60 lac bought 63 lac

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e-TDS + IT return filer Hyderabad
731 Points Posted on 12 July 2023

housewife sold the ancestral property for 60 lac 

bought another for 90 lacs 

*** so far not filed any return 

the buyer of 60 lac worth property deducted tax @ 1% 

Now the " housewife " wants to get refund by filing the return. 

advise..

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On 12 July 2023 at 10:14 Report
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Quick Summary
A housewife sold ancestral property for £60 lakh and purchased a new one for £90 lakh. Tax was deducted at 1% by the buyer. She now wishes to file a return to claim a refund. The advice is to file ITR 2, declare the gain under Schedule CG, and claim exemption under Section 54 of the Income Tax Act to avail the exemption.

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SEO Sai Gr. Hosp.
212535 Points Posted on 12 July 2023

File ITR 2 and declare the gain under Schedule CG... Claim the exemption u/s. 54 IT act...

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On 12 July 2023 at 10:47
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Profession
28271 Points Posted on 13 July 2023
Avail exemption and file itr
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On 13 July 2023 at 11:35

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