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Applicability of itr 2a

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2015 as per recent notification, if a salaried employee have loss from house property then he can't file ITR 1 and he had to file ITR 2A. Here what my query is does, interest on borrowed capital for self occupied property will result in loss from house property, or not.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
25 June 2015 ITR-1 cannot be used for the person having income/loss more than one house property

At present individuals/HUFs having income from more than one house property and capital gains are required to file Form ITR-2. It is, however, noticed that majority of individuals/HUFs who file Form ITR-2 do not have capital gains. A simplified form for these individuals/HUFs, a new Form ITR 2A has been introduced which can be filed by an individual or HUF who does not have capital gains, income from business/profession or foreign asset/foreign income.

So you can file the ITR-1 only if you have only one house property & interest on borrowed capital on that
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