Purchase of immovable property (SFT-012)
My parents have bought a property,
and the papers are registered with my mother, father, brother and i as owners including our PAN.
The payment was made in full by my parents, but the property is now showing up as a purchase of immovable property in my AIS and has been flagged by the Tax department .
I received the following message:
Attention XYZ (XXXXXXYXYX)
Income Tax Department has identified certain information related to high value transactions, which does not appear to be in line with the Income Tax Return filed by you for the Assessment Year 2023-24 (relating to FY 2022-23). You can view the information on compliance portal. Please submit your response online under e-Campaign tab on Compliance Portal or revise your ITR.
After login to the e-filing Portal (https://www.incometax.gov.in), please go to ''Pending Actions'' tab and click on ''Compliance Portal''. On Compliance Portal, navigate to ''e-Campaign tab'' and view campaign type ''High Value Transactions'' to submit response. If the information has been correctly accounted for in your ITR, you may ignore this message. Thank you, - Income Tax Department.
What is the correct response for this on the compliance portal ?