Under which section/rules disclosure of self occupied house property is required?
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Quick Summary
This discussion clarifies the requirements for disclosing self-occupied house properties in your Income Tax Return (ITR). It highlights that disclosure is necessary in the assessment year of construction and any subsequent year with increased rental income. The relevant sections governing this disclosure under income tax are identified as Sections 22 to 25.
The assesment year in which you hv constructed the property that needs to be disclosed in the itr.Now if there is further accretion to the property I.e. increase in rental income , the same needs to be disclosed.
An individual cannot disclose it unless he files a return. Suppose tax is paid by an assesse now the assesse can't get refund/ adjustment unless he files the return. So SEC 22,SEC 25 is not pertinent.