1) agreement for sale of inherited property purchased before 2001 is of rs 4400000/-
2) municipal value is rs 3800000/-
3) share of 4 sellers is 25 percent each i.e each seller recived 1100000/-
4) there is only one buyer who pays 1100000/- to each seller
5) year of sale is 31/3/2021
please guide what amounts have to be filled in itr2 for ( in sellers & as well as buyers column in capital of gains in itr2) by each individual seller )
Sale value should be apportioned to 4 sellers as per 25% each of 4400000 rupees
municipal value also be deducted as per 25% each for 4 sellers
Buyer should be allocated 4400000 rupees in whole as there is only one buyer
CAclubindia
