Residential property to be included in itr4 or not

You are a CA Final Student yaar. It is to be filled in ITR 2, under Income From House Property.

hello sir,

it was my mistake that not giving the full details.

the owner of the house is doing catering business. hence ITR 4 to be applied. hence i asked about ITR4.

thanks

Nagarajan

Dear Nagarajan,

Assesee is not receiving any income from house property. But If assessee has taken loan for construction or repair on self occupied house property. Than he can show interest on loan as negative income from house property. This income will be shown in scheduleHP.

Regards

Puneet mittal

dear Mr.Puneet

thanks for ur answer. But there was no loan and also ignore the corporation tax etc., Just i want to know whether the value of the self occupied property to be shown in ITR 4  or not? since i think there is no provision for showing non-depreciable fixed assets in ITR4.

thanks

Nagarajan

Not required to include any details under Hosue Property schedule in ITR - 4.

Annual value of Self occupied property will be nil and no loan is taken. Hence no income is taxable or no deduction U/s 24 is applicable.

thank u sir.

Nagarajan

thank sir