My uncle is 85 years old and I manage his equity portfolio. There were no 'taxable' capital gains for past two financial years (2018-19 and 2019-20), gains were within the income tax limit. We had not filed his ITR for the two years as there was NIL tax. There is no other income.
For FY 2020-21 I sold shares and the capital gains arising are above the income tax limit and taxable.
So can we file ITR only for FY 2020-21 or it is mandatory to file returns for past two financial years also? Please guide.
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IT return filing for Capital gains
Replies (4)
Quick Summary
You can file ITR only for FY 2020-21,
Nothing is explicit.
No figures.
However please follow my Facebook page
No figures.
However please follow my Facebook page
You cant file return for eariler years.
just file itr for the current year
just file itr for the current year
File ITR only for FY 2020-21
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