Income tax filing and stcg

Are you sure its STCG?

Well, File ITR 3

Yes you are right i think, It would be LTCG..Can you help me in calculating it also,.. The property was bought in 1992 and transferred to me in 2016 and sold in the same year 2016. bought land for 20000 build house on it, reconstruction done in 2010 and sold for 11 lakhs in 2016

1. 'Transferred to you' whether inherited/ gift.........

2. If yes to 1 above...... calculate indexed cost of land from 1992 to 2016

3. Add to it the indexed cost of costruction/improvement from 2010 to 2016......  (cost of construction in 2010 not provided)

4. LTCG would be 11 lakhs minus the above sum.......

It is a gift

Yes.......... in that case it is LTCG and you can also get exemptions u/s. 54 / 54EC etc....

Advised to file return by 5th August, it can be revised if needed.

So Indexed Cost would be = 2000*1125/223 ie  100896 

And cost of construction in 2010 was 7 lakhs  Should i calculate Indexed cost of construction as same formula above 700000*1125/711

I gave 11 lakh to my husband who purchased a new plot on his name, I am not joint owner 

1. The sale price of 11 lakhs should be equal to or more than that as per government valuation

2. Net capital gain is nil, so no tax liability but the transaction should be declared in ITR

3. There should be some proof of 7 lakhs expenditure in 2010.

4. Not to worry for the capital utilization, when it is not taxable.

I have another question i filr ITR 4 every year but as you said i have to file ITR 3 this year , In which column i will show income from profession?

When i try to generate XML i got the error "please ensure relevant fields of balance sheet and profit and loss filled"

While i have filled Column Number 53 in Profit and Loss  and column no 6 in Balance Sheet

Thanks Sir for guiding me

If you have PROPERLY filled all the relevant fields as per NO ACCOUNT CASE...... no need to worry for the massage..... you can generate XML and /or direcly upload ITR from utility itself.......

Thank you sir after checking thorougly i figured it out and the error was removed, Thank you so much for ur help