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Itr

n k abhiram (CA Final , CS Final ) (629 Points)

29 August 2015

One of my friend has 3 houses income situtated in same building (rent to 8000/- 9000/- and 12000 ) while filing ITR-2 he clubbed all the 3 houses rental income together and showed in ITR one consolidated amount as Rs 348000/- as income from house property and he also claimed loan on property and claimed 128000/-

My query is should he show the income from property under separate heading as house property income from house 1 2 & 3 or can we show one consolidated amount peratining to all the houses situated in the same builidng of same owner

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3 Replies

S. Shiroor (Others) (1207 Points)
Replied 29 August 2015

He should show 3 houses seperately with respective municipal taxes paid , respective rents paid and maintenance cost [if applicable] .

following Pdf file can be read/down loaded to see various illustrations.

https://www.incometaxindia.gov.in/tutorials/income-from-house-property-practical.pdf

This 52 page Tutorial is excellent with various illustration. Even an ordinary tax payer having little knowledge of taxes and accounts can understand this.

Plz read and revise return if possible.

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Udgam Koomar (Tax Technologist) (1949 Points)
Replied 29 August 2015

All the houses have to be showwn seperately. I second S.Shiroor Opinion

n k abhiram (CA Final , CS Final ) (629 Points)
Replied 29 August 2015

Thanks for quick reply.to mr S. Shiroor

I would like to give better clarity on the information given by me earlier.

The 3 houses situated in same building in different floors and the property tax is paid on an the entire building not for the each house separately and the loan taken is for entire building not for each houses. Does it required to divide the entire property tax paid into 3 portions and how to allocate the interest amount.