ITR for sales of property

This discussion clarifies the Income Tax Return (ITR) filing requirements for property sales. It explains that if the property sale was registered in the financial year 2020-21, any capital gains are taxable in that year. Even if payments were received later, the sale date dictates the tax year. It's compulsory to file an ITR if your income exceeds the basic exemption limit, and filing is recommended to claim credit for Tax Deducted at Source (TDS).