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Land sold in FY22-23, possible to show in ITR in FY23-24
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.
Replies (11)
When the sell deed made/registered?
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.
No other option but to file updated return for AY. 2023-24.
Dear Sir, I already filed return for AY. 23-24, now I able to file updated return for AY. 23-24, pls.
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.
Many thanks 🙏 Sir
You are welcome.
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.
YES, It will be wrong declaration. You may be penalized more for such step.
Thanks Sir,
You are welcome.
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