SFT-12 Correcting Amount in 26AS

Sir, 

 1. In 26AS - SFT-12, if the sale of property value is entered wrong by registrar, how could we correct the same.

2. Is this correction to be done before filing return.

3. In ITR-2. where do we mention about the amount received from sale of property and LTCG adjustments.

Replies (2)
Quick Summary
This discussion addresses how to rectify an incorrect property sale value reported in 26AS SFT-12, particularly when entered by the registrar. It explores whether corrections need to be made before filing tax returns and how to accurately report property sale amounts and Long Term Capital Gains (LTCG) adjustments in ITR-2. Guidance is provided on using the Annual Information Services (AIS) feedback mechanism and navigating Schedule CG for land and building sales, including considerations for reinvesting sale proceeds into new property under Section 54.

1. File your feed back in AIR so that the effect will reflect in TIS.

2. Under Schedule CG, choose option 'land & building'.

Thanks Sir.

1. Hope you are referring to Services > Annual information services (AIS) > update feedback by uploading JSon -  with options like 'Information is not fully correct'.

Should we wait for feedback approval (or) consider the updated sale value in LTCG in ITR.

2. If new house is bought with in 6 month of sale of old, hope no amount need to be invested in CGA scheme

3. If new house is bought on next financial year (with in 6 months of sale) should we select Sec 54 in CG deduction.

4. If part payment of under construction new house is paid (within 6 months) - which is above sale value of old,  in ITR, Sec 54 -  'Cost of new house' - should we mention, Part payment paid (or) total cost of the new house.

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