Tax filing on vacant property

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I OWN A COMMERCIAL PROPERTY BUT NO RENTAL INCOME. while filling ITR2, I see no option for vacant property. I have income from salary (48000/- only). what do I do? I have paid property tax.
Replies (6)
If property was vacant throughout the year then there you need not show it in the return.

but how about the property tax paid?. is it not compulsory to file tax, as restof the income is less than 1 Lakh.. tks.

 

One vacant property can be treated as self occupied, in ITR2 u have option to mention it as self occupied, since there is no income from it, property tax does not make sense

thanks a lot suni gokhale-ji...

however by declaring it (the commercial property in my name) as self occupied in ITR-2, I think I am denying my husband's claim on HRA, where he is eligible under for rental deductio (as we stay in rented house) 80gg, but has to declare that no property. sorry for keeping this queries still open despite your prompt replies.

tks in advance.

Commercial property cannot be self-occupied so you will not  be dining any benefit to your husband. Only residential property can be self-occupied.

thanks a lot suni gokhale-ji...
 

I think now I am further confused as you say commercial property can never be self occupied, but there is no option in ITR2 ( I AM USING ITR2, because I have exempt income like interest from ppf.. etc) for vacant prop.. but only rent or deemed letout or self occupied.

thanks in advance


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