Offsetting of capital gain by purchasing assets

Efiling 967 views 2 replies

Nagesh Rao

Others

25 Points Joined April 2013

Dear all,

I sold my old house property and purchased a new one. U/s 54, I can offset capital gains from sale of house with expenditure on purchase of new house. However, I could not find the space in ITR 2 where I can fill these details for reporting purpose. Secondly, I retired from Armed froces last february and though the retirement benefits are not taxable, i want to show the amount for reporting purpose only.

Please help me by confirming the relevant spaces in ITR 2 where i can fill the above details.

Thanks in advance

Replies (2)

shivam gupta

Student

142 Points Joined January 2010

Long term capital gain
1.	From Asset in case of non-resident to which first proviso to section 48 applicable
2.	From asset in the case of others where proviso under section 112(1) is not applicable
	a	Full value of consideration		2a	Fill here
	b	Deductions under section 48
		i	Cost of acquisition after indexation	bi	Fill Here
		ii	Cost of improvement after indexation	bii	Fill Here
		iii	Expenditure on transfer	biii	Fill Here
		iv	Total (bi + bii +biii)	biv
	c	Balance (2a – 2biv)		2c
	d	Deduction under sections 54/54B/54D/54EC/54F 54G/54GA/54GB		2d	Fill Here
	e	Net balance (2c – 2d)