return filing wrt house property income

HI..

Mrs. A is having two house property does't ment she need to file a return of Income under Income Tax Act. Earlier there was Proviso to Sec 139(1) which mandates a person to file ROI. But last year that proviso got repealed and is no longer binding. In my opinion, filing ROI is not at all required if she does't have any income.

Abhinav is right.

yes .. he is correct ......

Hello all

Thank you for your replies.

I would like to add one more point to the query. Mrs A has let out both the property and earns rental income.When I said, she does not have any other income, I meant she did not have income from any other head; except income from house property.

Now..... how would this affect your replies?

 Mr A has paid for purchase of property. There may be two conditions:

1. He has given this amount as a loan. If so , he may charge interest on that loan . Mrs A can claim this amount as an expense against Income from house property.

2. He can show this as a gift to Mrs A. In this case income will clubbed in his hands u/s 64(1)(iV)

IF Mrs. A is not a senior Citizen and her Gross Total  income is less than  Rs. 180,000 P.A. then she need not file return.

if she is a senior citizen then amount will be Rs. 2,25,000 P.A.

Hope you wil find this information helpful.

Regards

Vijay Kumar

At the very onset, I disagree with Mr Abhinav as Mrs A owns 2 House Properties.. Annual value of only one house at the discretion of Mrs A can be taken as Nil (exempt due to self use) but  annual value of the 2nd house needs to be determined (as deemed to be let out) case and she will be assessed for that income under the head of Income from House Property.... This is my opinion.....If income is below the taxable limit then there is no need to file return of income.....

Now, considering the second scenerio, where she letsout both the houses.....Calculate the annual value of the both the houses as per the rules and this will be taxed accordingly... Now u have to check whether taxable income is below the exemption limit.. if yes.. no need to file ROI else yes.

Please contradict me if am wrong. 

Mr. deepak and Mr. Raju are absolutely right.

I am also agree with Mr. Deepak and Raju.

First of all Mrs.A is not al all the owner of the two houses

Mr.A will be treated as deamed owner and he has to file the return

Thi income from house property should clubbed to Mr.A

Mrs. Rajalaksmi, I hav seen such type of cases in Chennai.  Funding  is done by  husband for the purchase of property in the name of wife.  I agree with Mr. Deepak. Source of Fund can be shown as loan if it is rented and can claim interest u/s 24 as deduction.Both the houses r registered in name of Mrs. A hence she can be treated as an owner of property.If she is owned for her own residence, it can be interest free loan. There will not be any problem.