Also Read | ITR 2021-22: Penalties you may have to pay if you miss July 31 deadline
- House renovation: If you have renovated your house in the last financial year (2020-21), the details about it must be mentioned in the 'capital gains' column in the ITR.
- Sale/ purchase of property: If you have sold property between April 1, 2021, and March 31, 2022, its details must also be mentioned in the 'Capital gains' column.
- Property in a foreign country: If you own a house in any foreign land, its details are also necessary to be mentioned in the ITR. Additionally, the I-T department may also ask you for details about your income abroad.
- Provident fund (PF account): If you earn an interest higher than Rs 2.5 lakh per annum on the PF account, it needs to be mentioned in the ITR.
- The actual cost of property: Until now, the index cost of the property purchased/ sold was required to be furnished in the ITR. In FY22, the taxpayers need to mention the actual cost of the property.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in