I live in Kolkata. I and my younger brother are the 50-50 owner of a G+3 storey building. It consists of 16 flats. Out of that 2 flats is self occupied and other 14 are rent out on salami basis. Rent receipts are present of all the tenants and I also paid property tax to KMC. I've all the legal documents related to my property well prepared. Now I want to show the 50% share income from this building rent receipts in my ITR. How can I do this? Which ITR form should be choosen and what will the process of disclosure?
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House Property Tax Filing
Replies (3)
File ITR 2 & declare the income under IF HP
The ITR-2 form is designated for individuals and HUF who derive income from sources other than 'Profits and Gains from Business or Profession.' Therefore, individuals earning income from multiple house properties than file ITR-2.
Itr 2 declaration of income
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