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Reporting Sale and Purchase of property in ITR
Is it necessary to report sale and purchase of property in ITR even if there is no capital gain? if yes how to show it?
Replies (3)
please elaborate your query further.what do you mean by sale and purchase?
is it in respect of one property or you are talking about the sale of one property and purchase of another fro the receipts of the first property?
is it in respect of one property or you are talking about the sale of one property and purchase of another fro the receipts of the first property?
I mean sale of old house and purchase of new house
yes you have to show these details in schedule relating to capital gains and such subsequent purchase comes under the exemptions categories relating to capital gains and it is mandatory to claim that in your return of income.
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