21 July 2024
Confusion while filling ITR2 - I have a joint commercial property in my and my mother's name say owner A and owner B with equal share. - It has 2 floors given to tenants, say tenant A and tenant B. - Ground Floor - Tenant A - Annual Rent - Rs. 5,00,000 - First Floor - Tenant B - Annual Rent - Rs. 4,50,000 - Annual Property Tax Paid - Rs. 50,000 - The tenants distribute the rent between Owner A and B and transfer to respective Accounts.
1. While filling in ITR2, I have to fill 2 House Property as Ground and First Floor? 2. Expense of Property Tax should be divided in 4 Parts ? - Owner - Tenant - 12,500 3. The ITR 2 individually be like:
House Property 1 - Let Out - Owner A - Tenant A Annual Rent - 2,50,000 Property Tax - 12,500 NAV - 2,37,500
House Property 2 - Let Out - Owner A - Tenant B Annual Rent - 2,25,000 Property Tax - 12,500 NAV - 2,12,500
House Property 1 - Let Out - Owner B - Tenant A Annual Rent - 2,50,000 Property Tax - 12,500 NAV - 2,37,500
House Property 2 - Let Out - Owner B - Tenant B Annual Rent - 2,25,000 Property Tax - 12,500 NAV - 2,12,500
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