My only income is from interest on fixed deposits.
In F.Y. 2014-15 I incurred a capital gain of Rs.1500000 through sale of residential flat.
The entire amount was credited to a Capital Gains Account Scheme account.
In the F.Y. 2017-18 I constructed a house utilising the entire amount from the CGAS account.
Now how do I fill this info in the ITR.
My tax consultant wants to fill ITR1.
However, the utilisation of capital gains cannot be shown in ITR1.
ITR2 was filed for the F.Y.2014-15 and exemption was claimed for the capital gains amount. I think ITR2 needs to be filled again this year to show the utilisation of the amount however my tax consultant is against it.
Please advice.