Dear,
Two years back I sold my flat in 30 lakhs and full sale amount deposited in LTCG account.
That time in ITR by mistake/ typing error I showed sale value as 35 lakhs.
Since I was not able to by new flat in 2 years so now I have to pay tax on LTCG.
Please advise should I take sale value 30 lakhs as per sale agreement in current year ITR and show in ITR and pay tax.
Thanks
Ashok Agarwal
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Tax on LTCG
Replies (5)
Calculate the original LTCG claimed as deduction in earlier year. Show it as current year income.
as per my view you should show sale value 30 lakhs as you have deposited 30 lakhs
Dear Manish,
As per your advice if I take 35 lakhs (that was a mistake) as sale value again then tax will be increased by about 1.04 lakhs.
Thanks
As per your advice if I take 35 lakhs (that was a mistake) as sale value again then tax will be increased by about 1.04 lakhs.
Thanks
You deposited 30 lac. Now, it is fully taxable. Thanks Sarita.
You need to pay tax on 30 lac.
thanks to both of you
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