How to show purchased property which is self occupied in itr

ITR 416 views 3 replies

I had purchased a residential house in FY 2014-15 , value 60 lacs. I had also deducted TDS from sellers using Form 26QB and this transaction is reflecting in my form 26 AS as well. I had bought this house from the proceeds derived from long term capital gain account which I had also declared in my ITR.

Question 1: This property is self-occupied , my source of income is pension and FD interest. which ITR form should I fill for FY 2014-15.

Question 2: DO I need to show details of this purchased property in ITR. How do I show details of this property in ITR.

Thanks

S Nagar

Replies (3)

Go for ITR2. Self occupied property can be mentioned in the return and from drop down select SOP, its just that you have to show that you have utilized earlier funds from CG account and whats the balance now.

How do I show utilization of funds  from LTCG account.

In the Exempt Income sheet  S.No 3 or 5 you have to fill up. I think 3 is for Stocks/Bonds and s.no 5 is for House/others. Experts plz Hlep him and enlighten me also.


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