Income tax type for high value transaction

which ITR should be filed for high value transaction, if person is doing agriculture and purchased lond.or solution for such massage received from income tax.
Replies (2)
Quick Summary
This discussion addresses which Income Tax Return (ITR) to file for individuals involved in high-value transactions, specifically those engaged in agriculture and purchasing land. It highlights the mandatory filing requirement for certain high-value transactions due to an amendment in Section 139(1) of the Income Tax Act. For those with agricultural income and land purchases, ITR-2 is suggested as the appropriate form.

There is addition in proviso in section 139(1).
Due to that, it is mandatory to file return for certain high value transactions.

Doing agriculture and purchase land, u can go for ITR2.
Thanks

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register