I have sold Flat in Nov 2020 for 48 Lakhs. I want to construct a house with in 3 year say before end of NOV 2023.
Do I need to file ITR2 in 2021 just stating sale transaction and intention to construct.
Then to what about paying LTCG. how to mention I want to save tax by proposed construction of a new house.
Do I need to File ITR2 in 2022 and 2023 also show the status of construction .
You can mention the deductions claimed under Section 54 in ITR under Capital Gains section.
Which ITR form? – You can check the ITR forms notification by CBDT for respective Assessment Years.
Kindly take help of a CA in this regard.
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