I have sold a residential plot bought in 1998 in 2 financial years. one part in january 2018 and second part in april 2018. Out of total amount arising i bought one house in june 2018 to avail benefit of section 54F. Now my query is how to file itr.
1. Shall i file it in 2 different yearsfor 18-19 and 19-20 if so, then how will i show house purchased for last year capital gain (january 2018). However i bought house within 6 months from first sale.
you will have to show capital gain for 2 different years.....
even the cost of acquisition shall be divided according to the size sold .......
in order to avail the benefit of 54F, you will have to
deposit the amount in the capital gain scheme account, where the money shall be allowed to be used only for such house purchase.
so, deposit the money in capital gain scheme account
CAclubindia
