I had sold a vacant land in Aug 19 and deposited entire sale consideration in LTCG account scheme with a nationalised bank and the capital gains was declared by filing ITR-2 in AY 20-21. In June 21, entire sale consideration was utilised for purchase of residential property. For AY21-22, do I need show usage of funds by filing ITR-2 and just ITR-1 will suffice being a salaried employee?
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LTCG Utilisation-ITR Form
Replies (2)
Quick Summary
No need to declare the utilization of fund in any ITR.
You can file ITR 1 as usual.
Utilization of fund is not required to be given there.
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