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Rent of Let Out Property

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(Querist)
21 July 2024 Confusion while filling ITR2
- I have a joint commercial property in my and my mother's name say owner A and owner B with equal share.
- It has 2 floors given to tenants, say tenant A and tenant B.
- Ground Floor - Tenant A - Annual Rent - Rs. 5,00,000
- First Floor - Tenant B - Annual Rent - Rs. 4,50,000
- Annual Property Tax Paid - Rs. 50,000
- The tenants distribute the rent between Owner A and B and transfer to respective Accounts.

1. While filling in ITR2, I have to fill 2 House Property as Ground and First Floor?
2. Expense of Property Tax should be divided in 4 Parts ? - Owner - Tenant - 12,500
3. The ITR 2 individually be like:

House Property 1 - Let Out - Owner A - Tenant A
Annual Rent - 2,50,000
Property Tax - 12,500
NAV - 2,37,500

House Property 2 - Let Out - Owner A - Tenant B
Annual Rent - 2,25,000
Property Tax - 12,500
NAV - 2,12,500

House Property 1 - Let Out - Owner B - Tenant A
Annual Rent - 2,50,000
Property Tax - 12,500
NAV - 2,37,500

House Property 2 - Let Out - Owner B - Tenant B
Annual Rent - 2,25,000
Property Tax - 12,500
NAV - 2,12,500

Please advice.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
21 July 2024 Yes, it can be also reported as single HP, divided for each owner as 50:50.
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Ankur Aggarwal

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Ankur Aggarwal (Querist)
21 July 2024 Sir,
Then how to mention tenant name and pan as there are 2 tenants, in case of reporting as single house property.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
21 July 2024 Both tenants combined with two PANS as tenants.
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