Assessess govt employee salary ITR returns filed every year but assessess purchase of residential property value rs:1 crore present financial year.
Doubt:
Assessess prepare finical statement of balance sheet and capital account compulsory for it purpose.
No, preparing financials is not required if the assessee is a salaried individual and has purchased residential property during the financial year.
When the house property is sold, then it has to be mentioned in the ITR and tax is to be paid on capital gains earned.
Hope this helps!