Dear Experts,
I have two properties one is self occupied with loan (House property-1), i disclose this property to my employer to consider interest and principle in FORM 16. Another property is let out (House Property-2) and income i include in ITR and pay tax. Second property details i do not give to my employer, but include in ITR.
However in last ITR i included only House property-2 detail which is let out property in ITR-2 and interest amount of my House Property-1 i included in section 'Interest paid on borrowed capital' in ITR. I did not include details of House Property-1 which is self occupied property in ITR-2.
My query is-
Was that wrong thing i have done? My previous ITR assessments completed successfully.
Shall i include both properties in my current year ITR-2 with inclusion of rental income for House property-1 and interest paid exemption for House Property-2 separately ?
OR I donot need to include my self occupied property in ITR and claim the interest with my rental property only as i did previously?
Do i need to correct my Previous ITR also to disclose both properties?
Kindly help
Thanks in Advance.
CAclubindia
