Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

deposit of sale proceeds

29 August 2019

how can I inform to the IT authority that total sale proceed of land is deposited in specific notified scheme of bank on line

Reply
Follow
Share

8 Replies

Kapadia Pravin (17254 Points)
Replied 29 August 2019

You have give such deposit details in the ITR only.

Upgrade to CAclubindia Pro. Subscribe Now!

Mahesh Chandra Mohapatra (189 Points)
Replied 29 August 2019

which ITR no

Kapadia Pravin (17254 Points)
Replied 29 August 2019

File ITR 2 ( if no business income)

Mahesh Chandra Mohapatra (189 Points)
Replied 29 August 2019

ln which form no and on line

Kapadia Pravin (17254 Points)
Replied 29 August 2019

File ITR 2

Upgrade to CAclubindia Pro. Subscribe Now!

Mahesh Chandra Mohapatra (189 Points)
Replied 30 August 2019

please mention how I record it in ITR2 online and where in ITR2

Suresh Thiyagarajan (Student) (3986 Points)
Replied 30 August 2019

1. ITR does not ask for documentary evidence for claiming exemptions or deductions with respect to Capital gains. However, if the sale proceeds are deposited in the bank the same should be mentioned in the relevant column in the ITR
2. Under which sec the exemption is claimed to go to that relevant section and enter the amount deposited amount.
Please correct me if the above solution has an alternative view.