Offsetting of capital gain by purchasing assets

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)
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) 

You will find this in your ITR 2 (Excel) in the tab named "CG-OS"

I hope it will help you

Dear Shivam,

 

Thanks for early reply.  your reply solved my first question. 

I will be greatful if you can suggest me where to show retirement benefits (approx 40 Lacs) in ITR 2. It is non-taxable.

 

Thanks again....

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
29 September 2026
Work at home

Lottery.sambad.tv

Bhopal

Others

View Details