Sir,
The ITR Utility offline and online error pops up at the Sch-House Property income.as to co-owners share in one rental property.
Error : Sum Of Co-Owners Share of property and Assessees share of property should be equal to 100%" Even though the data entered is already TOTALS to equal 100%.
Due to this error upon clicking at save or comfirm it will go directly to the error pop up. NOT ALLOWING TO PROCEED. However the % share of the assessee income is correctly calculated.
My query is instead of Yes for Co-owners of property, TICK NO & 100% AS THE SHARE and declare the calculated income share in the ITR-2 to bi-pass the error. I feel there should not be an issue (separate rent payments are made per share by the one tenant in one co-owned property). The Income from house property will be the same. Would like to here the opinion of our experts as to not mentioning the property as Co-owned. Could there be an issue cause for decades in the ITR it has been shown as a Co-owner of this one house property.
CAclubindia
