I have two houses and I was also confused about which ITR to file for 2 house property. That’s when my friend told me that the income tax department has notified seven different forms i.e. ITR 7, ITR 6, ITR 5, ITR 4, ITR 3, ITR 2, and ITR 1 to date. All taxpayers are required to file their ITR on or before the stated due date. The applicability of ITR forms varies depending on the category of the taxpayer like company, HUF, individuals, etc., the amount of the income earned, and the sources of income of the taxpayer.
ITR Form for More Than One House PropertyIf you are receiving income from house property (income can be from more than 1 house property), then you will have to file the ITR-2 form. This form is for HUF and individuals getting income other than income from ‘Profits and Gains from Business or Profession’.
Thus, if you are receiving income from these sources, you’re eligible to file ITR-2 Form:
Income from house property (no matter if this income is from more than 1 house property). I hope now you know which ITR to file if more than one house property.
Income from pension/salary
Income from capital loss/gains on the sale of property/investments (both long term and short term)
Income from other sources (such as bets on race horses, winning from lottery, and other legal means of gambling)
Foreign income
Agricultural income exceeding Rs. 5000
Non-resident and resident not ordinarily resident
The total income from the above sources may be more than Rs. 50,00,000.
Now you know which ITR to file if more than one house property is there.
Read more:
How to Show Purchase of Property in Income Tax Return?
How to Compute Properties in ITR?
How to show sale of property in income tax return?
This is all on which ITR to file for 2 house property.
Which ITR for two house property?
Chandra
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2022-06-14T18:43:11+00:00 2022-06-14T19:08:23+00:00Comment
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