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Zero Capital Gain
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.
Replies (4)
Quick Summary
No capital gains will arise as it is less 3 years than but have to be shown in ITR
Though there is no tax implication still it's better to disclose the said information.
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.
You must mention in the return - Then the only department must know - The same sold for profit/loss.
Not required to be shown
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