If their are 2 self occupied houses on husband and wife name and both are working
How i can show their income in ITR-2
Plz suggest
16 Replies
prateek jain
(article)
(58 Points)
Replied 11 June 2017
There is both r working then nothing will be taxable bt you should confirm House property should not be a transfer property....for each other
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Is both house are under joint name or separate
prashant desai
(190 Points)
Replied 11 June 2017
as per rule if there r two houses 1shoud be consider as let out
so should I file ITR -2 for both husband and wife
so should I file ITR -2 for both husband and wife
prashant desai
(190 Points)
Replied 11 June 2017
as per rule if there r two houses 1shoud be consider as let out
so should I file ITR -2 for both husband and wife
as its joint name in both houses agreement
Plz suggest
so should I file ITR -2 for both husband and wife
as its joint name in both houses agreement
Plz suggest
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Since the House property is in the joint name of H & W the computation has to be made as per rule then divide it in 50-50% only. It does not matter that wife's income now is not taxable. ( Who knows it may become taxable after including the 50% share of rent) So calculate the HP income for the property and divide the net result Income or loss by two and include in each person's return
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Sorry wrong answer printed
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Since the House property is in the joint name of H & W the computation has to be made as per rule then divide it in 50-50%
So calculate the HP income for both property and divide the net result Income or loss by two and include in each person's return
So calculate the HP income for both property and divide the net result Income or loss by two and include in each person's return
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Use ITR-2.Choose shared income from H.P. option in that
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Instead one has to be takesn as let out.
CA Rashmi Gandhi
(Chartered Accountant)
(86495 Points)
Replied 11 June 2017
Only one self occupied property is exempted.
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