Capital gain tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2016 Respected Sir,
I have filed itr 1 in ay 2015-16 income from salary.but sold my residential house on October2016 RS 3000000/-.Can I file itr 2 in 2015-16 again or submit return in ay 2016-17 itr2.kindly suggest.

Ankur Singhal

Ankur Singhal (Expert)
Follow

18 March 2016 Dear
Correction it would be OCT. 2015.
Since you sold the house in oct 2015 i.e FY 2015-16 and relevant AY 2016-17.
Hence the capital gain will be taxable in AY 2016-17.
Hence will be shown in ITR filed for AY 2016-17.
Nothing to do with itr of AY 2015-16.

Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2016 Sir,
I have salary income also then I will file itr2 for salary and capital gain tax.

Upgrade to CAclubindia Pro. Subscribe Now!

Ankur Singhal

Ankur Singhal (Expert)
Follow

18 March 2016 yes you need to file itr 2.