25 June 2015
as per recent notification, if a salaried employee have loss from house property then he can't file ITR 1 and he had to file ITR 2A. Here what my query is does, interest on borrowed capital for self occupied property will result in loss from house property, or not.
25 June 2015
ITR-1 cannot be used for the person having income/loss more than one house property
At present individuals/HUFs having income from more than one house property and capital gains are required to file Form ITR-2. It is, however, noticed that majority of individuals/HUFs who file Form ITR-2 do not have capital gains. A simplified form for these individuals/HUFs, a new Form ITR 2A has been introduced which can be filed by an individual or HUF who does not have capital gains, income from business/profession or foreign asset/foreign income.
So you can file the ITR-1 only if you have only one house property & interest on borrowed capital on that
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