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Itr form 4s one house proprty means ?

rajkumar goyal (manager) (67 Points)

07 February 2015

ITRform 4S can be used when (altogheter others )

(1) income is from one house property .What it means ?

if someone have a self occupied house & from another house got rent then is he entitle to file ITR4S or not

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5 Replies

Roshan Thomas (C.E.O ) (356 Points)
Replied 07 February 2015

No , ITR 4S cannot be used. For more than 1 house property use ITR 4 or ITR 2 as the case maybe

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manoj (student) (5205 Points)
Replied 07 February 2015

If property is let out and other source of income only than file fill ITR 2

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 08 February 2015

If the property is own and not carrying any business, you cannot use form 4S. If your main business is renting of property You may use ITR 4 or 4S.

M L Babu (Tax Consultant) (63 Points)
Replied 09 February 2015

ITR 4S is only when you deem your income u/s 44AD. here its only house property.It would fit with ITR 2 where no income from salary , business or capital gains are there. In case you have salary income, still it would require you to file form No: 2, when you have income from HP

Arif Ali (Apt Co Advisory) (1230 Points)
Replied 09 February 2015

Originally posted by : rajkumar goyal
	ITRform 4S can be used when (altogheter others ) (1) income is from one house property .What it means ? if someone have a self occupied house & from another house got rent then is he entitle to file ITR4S or not