I have a unique case for ITR2 Schedule House Property. The interest on home loan paid for the entire year was close to INR 3,00,000. Now, since the possession was in 2017-18 financial year, entire interest amount can be put in "Interest paid on borrrowed capital".
Property was let out in mid April 2018 for rent of 13,000 per month but that definitely can not be calculated as income for FY2017-18. Accordingly, what should be put in "Annual letable value or rent received or receivable (higher of the two, if let out for whole of the year, lower of the two if let out for part of the year)"?
Once property is declared as RENT OUT in schedule HP, it does not accept 0 as a valid value in that field.
CAclubindia
