Itr4 &income from house property

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2017 I AM COVERED U/S 44ADA.I HAVE TWO HOUSE PROPERTIES.ONE IS SELF OCCUPIED& ITS INCOME IS NIL.2ND ONE IS RENTED & I GET RS.50000/FROM THIS PROPERTY.DOES IT AMOUNT TO INCOME FROM ONE HOUSE PROPERTY TO MAKE ME ELIGIBLE TO FILE RETURN USEING ITR4.KINDLY EXPLAIN..

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

24 September 2017 you can very well opt for 44ADA, no matter which ITR you file

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2017 I WILL STILL LIKE TO KNOW WHETHER FOR MY QUERRY, IT WILL BE TAKEN AS INCOME FROM ONE HOUSE PROPERTY OR TWO HOUSE PROPERTIES.BECAUSE ITR4 IS FOR INCOME FROM ONE HOUSE PROPERTY BESIDES OTHER CONDITIONS.

Upgrade to CAclubindia Pro. Subscribe Now!

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

24 September 2017 ITR 4 does in no way restricts the number of houses an assessee can have. YOu can show both houses , with one as self occupied and another as let out

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2017 sir,there is no coloum in ITR4(sugam) a.y 2017-18 to show income for more than one house property. kindly review your reply to my above queries.(23/9/17&24/9)

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

25 September 2017 in that case you can select ITR 2 OR ITR 3 as the case may be

Message likes : 1 times

RAJA P M

RAJA P M (Expert)
Follow

25 September 2017 Yes... You ll be file ITR 2 or 3... ITR 4 (presumptive) can't have two house property details column... So, you can use ITR 2 and 3...

Message likes : 2 times

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

25 September 2017 Thank you Amol ji and Raja ji

Upgrade to CAclubindia Pro. Subscribe Now!

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

25 September 2017 you are most welcome.........

RAJA P M

RAJA P M (Expert)
Follow

26 September 2017 You are Welcome Sir Ji....