• I have sold and purchased a piece of agricultural land

I have sold land worth 1200000 (municipality) and purchased another agricultural land for 1500000(Mandal) .i have also spent some money on developing the new purchased land.

Which section of the itr2.. Am I supposed to fill these details in. Please suggest.
Asked 2 months ago in Income Tax from Bangalore, Karnataka

There is no requirement to file any details of just purchase of property if you have capital gain then you need to provide details.

Anyways ITR 2 is still not available to file so just wait for it.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Naman Maloo
CA, Jaipur
1486 Answers
16 Consultations

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In schedule Capital Gain, you need to fill the details according to the nature of the gain.

Vivek Kumar Arora
CA, Delhi
2520 Answers
112 Consultations

5.0 on 5.0

Dear Sir,


Hope you are doing well !!


There is no requirement to file details of property.


You just need to report capital gain details in ITR.


Once you have figured out what your capital gains or losses are, the next step is to include them in your ITR form. There are different ITR forms based on the type and amount of income. “Individuals with income from salary and capital gains are required to fill ITR-2,"


“The requirements regarding capital gains in ITR-2 are extensive and depend upon the type of asset sold and period of holding, whether it is a long-term capital asset or a short-term capital asset. Generally, the details to be disclosed are the date of sale and purchase, purchase amount, sales consideration, type of asset, transfer expenses and so on.


We may help you in filing return.

Payal Chhajed
CA, Mumbai
2217 Answers
24 Consultations

5.0 on 5.0

You will have to fill section "CG" of ITR 2.

Lakshita Bhandari
CA, Mumbai
3056 Answers
139 Consultations

5.0 on 5.0



You are not required to disclose the property details in ITR.


Purchaser is not required to give details of purchase in ITR. Only seller is required to give details of property sold under 'Capital gain taxes' schedule of ITR 2.

Karishma Chhajer
CA, Jodhpur
1074 Answers
4 Consultations

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