Sir, Please inform where I have to show the details of a property (Flat) purchased in Income Tax Return ?

Ans: There is no specific requirement to file ITR returns when you purchase a property. This would however be available with the IT Department based on the TDS that was deposited and the information shared based on registrations of properties.

However, there is a reporting of assets and liabilities required if your taxable income is over Rs 50 lakh. In such cases, you would need to do so.

Ans: or FY 22-23, ITR forms yet to be notified and some major changes are expected. So wait till April 2023.

Ans: You need to understand the following things about taxation of your flat:-
1. You have earned a profit (called capital gains in this context) on the sale of your house. So tax is due.
2. However, tax will not simply be 31L – 8.5L. The Govt gives you an advantage of inflation over the years which increases your purchase cost through a process called ‘Indexation’, thus decreasing your tax. Please google and read up on it, or contact a good CA or a financial advisor.
3. You also get credit for registration and stamp duty charges, brokerages paid as also any improvements done in the house of a permanent nature.
4. Please read up on Income Tax Section 54 which also gives out how you can save tax on your final capital gains arrived at.
5. The entire calculations and sale/purchase details have to be shown in the ITR. Most probably you will be filling ITR-2 for this next year but please ascertain the same when you are about to file the tax since rules keep changing.

Ans: Your question has already been replied as above. Please don't repeat the same.
Wish you all the best. Thanks.