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Itr for report ltcg
R/all
an assessee received a sum of Rs-17,00,000 as sales consideration
Sales exp- 80,000
index cost of purchase- 2,64,000
Index cost of improvement Exp- 4,55,000
Exp in Building new residential house- 12,50,000 approx
Please suggest-
1- Which ITR Form to Fill
2- Which Document to be req to certify exp of new house building
3- which documentation proof will be needed to prove the cost of improvement
kindly Suggest
Replies (5)
Is there any other income of assessee
Yes assessee has agricultural income approx 1.5 - 2 lakh
1. ITR -3 is required to be file. 2. No documents is required to attached now but as & when required u have registery of new house & expenses voucher for proving your cost of improvement.
Exp of improvment were accured in 1997-98 and paid in cash (Boundry Wall, Dumping, Temporary Sheeding Etc) there in no document available.
New house was constructed on pre-owend land in village. Expneses paid partly in cash and partly by Bank as and when required.
how to show the same on record.
Most probably not required but if deptt ask for(99% not asked in small cases)you have to clarify all this
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