Filing of Itr (Purchase of Property)

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Suresh87 asked 8 years ago

Hello Sir, From 2014 I'm filing returns(ITR 1) and maintaining book of accounts.Recently i bought a empty plot (valued @4lakhs). I paid that amount through cheque and record that transaction in my account books.I do not have any income from that land. Is it necessary to show my purchase in ITR form? Is there any such option in ITR form?

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Sreekanth Staff answered 8 years ago

Hi, There is no need to disclose this transaction through your ITR, as there is no income out this one.. Related articles : https://www.relakhs.com/how-income-tax-department-tracks-the-high-value-financial-transactions/ https://www.relakhs.com/rs-2-lakh-cash-transaction-limit/