This is a common confusion I had for long.
In ITR-1 , there is option for type of house property.
- Self Occupied
- Let out
- Deemed Let out
My question is why there is no option not applicable and this is common format since begining of ITR 1 ?
What if person does not own house but also not staying in rented house ? ( Like usually staying with Parent most common case in India)
In past someone suggest Self Occupied and some say different option. Not sure just for this it needs to corrected old ITR as there is no financial transaction.
What option is correct in what case ? What should be selected from now onwards for this value ?
CAclubindia
