ITR 2 - New regime - Interest on borrowed capital for let out property

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This discussion addresses an issue with filing ITR 2 under the new regime, specifically regarding the entry of interest on borrowed capital for a let-out property. The user found that the system wasn't calculating the net income correctly, showing zero despite interest being entered. The solution involved ensuring all mandatory details for interest on borrowed capital were fully completed within the Java utility, which then allowed for accurate net income calculation.

Guest

Guest (Querist)

31 August 2025 I am filing my ITR 2 under New regime. In the section HP and question 1h, I am able to enter the interest on home loan. The property is let out and net income is positive ( not loss).But the system is not considering this while calculating net income. It's showing 0 even when I have updated interest on home loan.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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31 August 2025 I recently added a tenant in my sample ITR2 format of offline Java utility ver 1.2.2...
It asked all the details in tab ,,,sec 24(b) interest on borrowed capital...
like name of bank details & loan details....
unless these details are filled completely it will not accept the interest amount...
Finally it was accepted and net IFHP was calculated accurately.
Check if your utility is latest version... whether you have filled all the MANDATORY details in the schedule..... rest assure it will be accepted... there is no glitch in the utility.

Guest

Guest (Querist)

31 August 2025 I am filing ITR online and not using Excel utility.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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31 August 2025 It is not excel utility. It is java utility as good as online version.
I cannot take trial on online site without login. But the same would be good even on online utility. Check if you have entered all the details as said above. It will work.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 September 2025 Good luck....

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