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LTCG Utilisation-ITR Form

ITR 166 views 2 replies

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?

Replies (2)

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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