House Property Reporting in ITR
This query is : Open
17 June 2026
Hi,
I have few queries regarding reporting of house property in ITR :
1. If I have 1 or 2 self occupied house property, where do i report them in ITR? (Considering net income for both as zero).
2. Is a commercial property also part of house property?
3. I have bought a residential plot for investment. Will it also form a part of house property?
Thanks in Advance.
I have few queries regarding reporting of house property in ITR :
1. If I have 1 or 2 self occupied house property, where do i report them in ITR? (Considering net income for both as zero).
2. Is a commercial property also part of house property?
3. I have bought a residential plot for investment. Will it also form a part of house property?
Thanks in Advance.
17 June 2026
Self-occupied: Up to two can be marked as self-occupied with Nil GAV in the ITR "House Property" schedule; you can still claim home loan interest deductions.
Commercial Property: Falls under "House Property" unless used for your own business/profession, in which case it moves to the "Business or Profession" head.
Residential Plot: Does not count as "House Property" as it lacks a structure; it is typically treated as a capital asset, and gains from its sale are taxed as "Capital Gains."
Commercial Property: Falls under "House Property" unless used for your own business/profession, in which case it moves to the "Business or Profession" head.
Residential Plot: Does not count as "House Property" as it lacks a structure; it is typically treated as a capital asset, and gains from its sale are taxed as "Capital Gains."
17 June 2026
Thank you for your reply. Few follow up questions :
1. If I have a house property, but currently I am living in a flat on rent. No one is living in that house property. How will the reporting work in this case.
2. I have house property with 50% ownership along with 50% with my wife. How will the reporting work in this case.
Thanks
1. If I have a house property, but currently I am living in a flat on rent. No one is living in that house property. How will the reporting work in this case.
2. I have house property with 50% ownership along with 50% with my wife. How will the reporting work in this case.
Thanks
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