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.
CA Tilak Raj Sharma
(Expert)
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.
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