Find
Sub-registrars report property purchases and sales of ₹30 lakh or more. The department wants to know how the purchase was funded and, for a sale, whether capital gains were reported.
ITR
Property purchase flagged in an e-campaign
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
Sec 285BA, Income-tax Act 1961; Rule 114E, Income-tax Rules 1962 (now Rule 237, Income-tax Rules 2026); Sec 69, Income-tax Act 1961 (now Sec 103, Income-tax Act 2025)
Analysis
Prepare a simple funding chart: say ₹60 lakh home loan, ₹20 lakh savings and ₹5 lakh from parents. Attach the loan sanction letter, bank statements and gift letter if asked. If you sold a property, check that capital gains and any exemption claim are in your return. A clear funding trail usually closes such campaigns.
Close
- Make a list of every source used to pay for the property.
- Collect loan papers, bank statements and gift letters.
- Respond that the information is correct and explain the funding.
- If a sale's capital gains were missed, plan a revised or updated return.
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.