Which ITR Form for 2 House Property
This query is : Resolved
26 July 2023
HI Experts,
I am planning to put my two flats on rent and would like to know
1. Which ITR form will need to be filled for Next Year FY 23-24 .Income is below <50 lakhs & other income sources are Fixed Deposit/Savings Interest & Dividends
2.Is it beneficial if the rental income is received in separate bank accounts ?
3. Are there different tax slabs or income treated differently if not using ITR1 form ?
Thanks,
I am planning to put my two flats on rent and would like to know
1. Which ITR form will need to be filled for Next Year FY 23-24 .Income is below <50 lakhs & other income sources are Fixed Deposit/Savings Interest & Dividends
2.Is it beneficial if the rental income is received in separate bank accounts ?
3. Are there different tax slabs or income treated differently if not using ITR1 form ?
Thanks,
26 July 2023
1. ITR 2.
2. No.
3. ITR 1 not eligible when there are two HP.
2. No.
3. ITR 1 not eligible when there are two HP.
26 July 2023
Hi Dhirajlal Sir,
Thanks for quick response.
Would the ITR 2 have different tax treatment /tax slabs or it all depends on total income for an individual rather than what is the source?
Thanks for quick response.
Would the ITR 2 have different tax treatment /tax slabs or it all depends on total income for an individual rather than what is the source?
26 July 2023
After standard deduction of 30% from rental income, the remaining aggregate income is assessed as per slab rate.
13 September 2024
Good luck.
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