Shall I disclose the HP away from my work place in IT return
This query is : Resolved
29 December 2008
Hi all,
I am working in Hyderabad. I got a house from my parents as gift. I dont have any rental income from it or any other house. As the Annual Value of this house is nil, should I disclose it in IT return?
Can I use ITR1?
Please reply soon.
Thanks,
Venkateswar.
I am working in Hyderabad. I got a house from my parents as gift. I dont have any rental income from it or any other house. As the Annual Value of this house is nil, should I disclose it in IT return?
Can I use ITR1?
Please reply soon.
Thanks,
Venkateswar.
29 December 2008
Yes, you should disclose it in your IT return.
29 December 2008
Yes, you can disclose this. You have to use ITR2
29 December 2008
Yes. U can disclose in ur return.U have to use either ITR 2 OR 4
29 December 2008
Thank you Tilak,
Can I claim any deductions from this house property? Shall I pay any other taxes like Gift Tax?
Can I claim any deductions from this house property? Shall I pay any other taxes like Gift Tax?
30 December 2008
You can claim only interest paid on housing loan. Gift tax is not applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Average Cost Of High Quality Diamonds
- Regarding ITR filing with more value than showing in AIS/TIS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
