10 June 2013
I am a normal salaried individual. I sold a property this year and the (long term) capital gains that I made on this sell were reinvested long term capital gains reinvestment bonds. Hence, I did not have to pay any tax on the same.
Q1. Now which ITR form do I fill - ITR1 or ITR2? Q2. Is there any penalty if I fill ITR1 form? Q3. If I fill ITR2 form, will I have to disclose my property and bond details? Q4. Will filling ITR2 make the chances of my IT case opening more? Can I fill ITR1 so that the chances of a scrutiny are less? If the case opens will there be any penalty. Please note that I am not evading any tax.
CAclubindia
