An employee claims his Loss on House property Upto Rs.150000 in his Form 16 and his income is around Rs.30 lakh per Annum and he have given the property for Rent and he earns Rs.14,000/- per month.for this he paid advance tax seperately and not declared in the Form 16.
For his IT return purpose how i have to calculate the Tax on House property?
Which ITR i have to file and how i have to shown this loss on house property of Rs.1500000/- and Income from House Property and tax paid details?
26 July 2012
Are you talking of one and same house property or your assessee has 2 properties. Assuming only one house property, calculate the house property income... rent less municipal taxes less interest on borrowed capital..... File ITR2
27 July 2012
He claimed HRA from Company as well as Interest on housing loan and his property is Let out and he paid seperate Advance Tax for Rental Income.
In this case how we have to shown the details in ITR?
CAclubindia
