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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.
211715 Points Posted on 27 June 2024

When the sell deed made/registered?

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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.
211715 Points Posted on 27 June 2024

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

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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.
211715 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.

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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.
211715 Points Posted on 27 June 2024

You are welcome.                      

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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.
211715 Points Posted on 27 June 2024

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

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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.
211715 Points Posted on 27 June 2024

You are welcome.               

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On 27 June 2024 at 16:53


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