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Zero Capital Gain

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Former Director DRDO
114 Points Posted on 13 July 2021
I have sold a land alloted by government at rate equivalent to circle rate of acquired land and sold after 2 years at same rate (Total amount Approx 9 Lakh) so there was no capital gain. Do I have to mention it in my ITR.
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On 13 July 2021 at 11:35 Report
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Chartered Accountant
24588 Points Posted on 13 July 2021
No capital gains will arise as it is less 3 years than but have to be shown in ITR
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On 13 July 2021 at 12:47
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Practicing Chartered Accountant
573 Points Posted on 13 July 2021

Though there is no tax implication still it's better to disclose the said information.

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On 13 July 2021 at 12:49
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STUDENT
1631 Points Posted on 14 July 2021
From The Register -Office - Reported to the Income Tax.

You must mention in the return - Then the only department must know - The same sold for profit/loss.
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On 14 July 2021 at 01:55
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Chartered Accountant
24588 Points Posted on 14 July 2021
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On 14 July 2021 at 05:56


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