recently I hv sale my property
Total sales value is 55 lakh.
TDS deducted and paid by purchaser on 30th march-21
All payment received in APRIL-21
and MAY -21
my query is ---
how to file itr in this case ?
is it compulsory to file ITR filing of
f.y 20-21 ?
shd I file itr nill for f.y 20-21 ?
pls guide on this.
thank in advance.
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ITR for sales of property
Replies (5)
Capital gains will arise.
File ITR 2.
It is compulsory to file return
File ITR 2.
It is compulsory to file return
1) If the registration was done in FY20-21, then capital gain is taxable in FY20-21 itself, else in the subsequent year.
2) If the income exceeds basic exemption limit, then you are required to compulsorily file ITR.
Since tds is deducted u should file the return in FY 2020-21 to take its credit. further if sale date falls in FY 20-21 u have to show the income in the return of FY 20-21 itself. so u need to file the return.
Capital gain arise for FY 20-21, file your return
Agreed
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