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Land sold in FY22-23, possible to show in ITR in FY23-24

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538 Points Posted on 27 June 2024
Dear Sir, I sold a land on 07/03/23, now I able to show this capital gain in my ITR for FY23-24. what is the rules.long term capital gain.pls.
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On 27 June 2024 at 08:47 Report
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SEO Sai Gr. Hosp.
211624 Points Posted on 27 June 2024

When the sell deed made/registered?

581 Reply
On 27 June 2024 at 10:48
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538 Points Posted on 27 June 2024
Dear Sir, sell deed/registration made on 07/03/23. In ITR back date do not permit, sell date permit from 01/04/23, what would I do? pls.
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On 27 June 2024 at 10:57
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SEO Sai Gr. Hosp.
211624 Points Posted on 27 June 2024

No other option but to file updated return for AY. 2023-24.

581 Reply
On 27 June 2024 at 11:23
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538 Points Posted on 27 June 2024
Dear Sir, I already filed return for AY. 23-24, now I able to file updated return for AY. 23-24, pls.
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On 27 June 2024 at 11:50
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SEO Sai Gr. Hosp.
211624 Points Posted on 27 June 2024

Yes, you can file updated return u/s. 139(8A) IT act, for AY 23-24 with any additional tax liability. It is advisable to file it earliest for such missing data.

581 Reply
On 27 June 2024 at 12:20
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538 Points Posted on 27 June 2024
Many thanks 🙏 Sir
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On 27 June 2024 at 12:53
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SEO Sai Gr. Hosp.
211624 Points Posted on 27 June 2024

You are welcome.                      

581 Reply
On 27 June 2024 at 13:21
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538 Points Posted on 27 June 2024
Sir if I declare this capital gain on 01/04/23, it will be wrong or invalid, pls. because if I file updated return, I have to pay penalty.
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On 27 June 2024 at 14:16
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SEO Sai Gr. Hosp.
211624 Points Posted on 27 June 2024

YES, It will be wrong declaration. You may be penalized more for such step.

581 Reply
On 27 June 2024 at 14:25
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538 Points Posted on 27 June 2024
Thanks Sir,
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On 27 June 2024 at 16:42
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SEO Sai Gr. Hosp.
211624 Points Posted on 27 June 2024

You are welcome.               

581 Reply
On 27 June 2024 at 16:53


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