Hi,
I had reached an agreement to sell with a builder for sale of my floor in a residential house Dec 2009. The said floor was gifted to me by my parents. They constructed the house in 1973.
The possession of the property was given to the builder in April 2010 and the balance money received. Around the same time I reached an agreement with the same builder to purchase a floor apartment from him and the entire money received by me was passed onto him (over Rs 50 lacs).
I wish to know the following:-
What is the last date by which I have to receive possession of my new house (is it within 3 years of April 2010 or with 3 years of filing this IT return)
Do I have to reflect these two transactions in this years IT return under Long Term Capital Gains.
Do I have to file ITR2. I am a housewife and have no other source of income other than a few FDs.
An early reply will be appreciated as the time to file the IT return it at hand.
CAclubindia
