Query on itr 2

Dear Sneha,

Kindly enter the address of the property for which you have taken home loan, in the Schedule "Income from House Property".

Best Regards,
CA Lovely  Arora
ca.lovelyarora @ gmail.com
+91-9891400405

Originally posted by : Sneha Ramakrishnan
	Hello!! In case of ITR 2, where in the House property sheet, I have claimed a deduction of Rs.150000 as it is not let out, but the the total in that sheet is not reflecting this negative income of Rs.150000 instead it is showing '0'. Thus the ITR is finally working out a huge tax liability as it is not taking into consideration this deduction of rs.150000. Whereas according to me I have paid all my self assessment tax and therefore left with no liability. What to do?? please help!!   Regards,   Sneha

Dear Sneha,

Loss of Rs.150,000/- under House Property head will automatically  be reflected in CYLA-BFLA sheet, which you can adjust against your income from other heads. You will get benefit of this amount in Computation sheet Part B - TI and your tax liability will be calculated accordingly on your net taxable income. 

Thanks,

CA.SKR

 

Hi,

1) mention the address in the sheet house property. Also fill the interest amount in the same sheet.

2) In the sheet CYLA-BFLA, beside the salary you  need to mention the amount what you want to setoff.

Regards

Ashok