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Mallikarjuna

Income from Self occupied property...
GM, self bought a flat in chennai in Oct14 and took the possession in Aug 17..
Want to know...

1. pre construction period for interest calculations.
2. Self working in private sector & staying in Bangalore claiming HRA in tax rebate. can i show my flat as a self occupied since my mother and father stay...
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Amlan Dutta
1.) During this period October 2014 to August 2017 - this is the preconstruction period .....starting FY 2017 18, you can claim loan interest in 5 equal installments under 24(b)

2.) Yes , you can show ....i don't understand why people mix income from house property and salary (HRA), i guess they hav...
  • August 26, 2018
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Vaibhav

Income from Self occupied property...
I own a house and live in it, so income from house property is zero. Since there is no home loan, no interest outgo and hence no 'loss' from house property too. In such case, can property tax that am paying be claimed under any section? Also, do I have to provide address etc. details of the property...
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Amlan Dutta
For self occupied house , you cannot claim any deduction of property taxes...The net annual value of a self occupied house is always zero ...if you are filling ITR 1 , then no , you are not required to provide details of the property ...see the attached screenshot ...once you select self occupied ,...
For self occupied house , you cannot claim any deduction of property taxes...The net annual value of a self occupied house is always zero ...if you are filling ITR 1 , then no ,  you are not required to provide details of the property ...see the attached screenshot ...once you select self occupied , the not applicable fields get greyed out(making it non editable)
  • June 19, 2018
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Vaibhav
Thanks Amlan. What about ITR2? Does the address of the own property needs to be mentioned in ITR2?
  • June 19, 2018
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