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Interest on borrowed capital rental income

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This query is : Resolved

Rahul Singh (Querist)
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12 March 2026 Home loan interest 2 lakhs
New tax regime
Annual rent Rs 313000
Net income Rs 19000
Let out property
While Updating to employer but they are considering let out property as Second home loan what to do
1. While filing ITR whether it will rectified that I have only one property which is let out

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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13 March 2026 Your employer's system is likely using the term "second home" as a technical workaround to process a "let-out" property under the New Tax Regime. You can safely accept this classification for your employer's TDS calculations. When you file your actual ITR, the form does not rank properties numerically; you will simply declare your single house as a "Let-Out Property," ensuring your tax return is 100% accurate.

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