23 May 2013
I. Tax Return (ITR) require assessees to give information about certain transactions entered into during the previous year, which are reportable in the AIR u/s.285BA. My query is, if an individual and his spouse jointly purchase an immovable property (say) for Rs. 40 lacs and the share of each is 50% i.e. Rs. 20 lacs each. My query is whether this information is required to be given in ITR by both individually?
24 May 2013
Since the ITR for AY 2013-14 does not have (AIR) blocks, then in what way the assessee should intimate the dept. about the said information