I am resident and have sold land and building situated outside India. Whether I need to report the details of property and identity of buyer in Schedule CG?
FAQs in respect of filling-up of the Income-tax return forms for Assessment Year 2022-23
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Disclosure of foreign immovable property: buyer identity and property details must be reported; PAN required in specified cases. A resident who sold land and building situated outside India must report property details and the buyer's identity in Schedule CG; quoting the buyer's PAN is required only where tax is deducted under the applicable tax deduction mechanism or the PAN appears in transaction documents.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Disclosure of foreign immovable property: buyer identity and property details must be reported; PAN required in specified cases.
A resident who sold land and building situated outside India must report property details and the buyer's identity in Schedule CG; quoting the buyer's PAN is required only where tax is deducted under the applicable tax deduction mechanism or the PAN appears in transaction documents.
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