1)House property - owner occupied 2) income from self employment

1) I am living in my 2BHK Flat.   There is no rental income.   In ITR Form 1 should I record my income as ZERO or record the probable renal income and property tax paid and show the final income as a negative figure.

2)   I am not doing any PROFESSION OR BUSINESS. I have small income due to self employment - such as Tution to children and mini catering to individuals.   Can I use Form 1  and Record this income under "Other Income" category.

vsrajaraja

 

 

Replies (2)
Quick Summary
This discussion clarifies how to correctly declare income on ITR Form 1 for individuals living in their own property and those with self-employment income. For an owner-occupied property with no rental income, it should be declared as 'Self Occupied' with zero income. For self-employment income from sources like tutoring or small catering services, it can be declared under the 'Other Income' category within Form 1.

Do not file returns

As you have occupied the flat, there cannot be deemed income or negative income. Just select 'Self Occupied'.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
19 August 2026
PAID ARTCILE ASSISTANT

My Legal Tax Consultants Pvt. Ltd.

Noida

CA Inter

View Details