{"id":6370,"date":"2026-07-29T10:18:27","date_gmt":"2026-07-29T10:18:27","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=6370"},"modified":"2026-07-29T10:18:27","modified_gmt":"2026-07-29T10:18:27","slug":"itr-deadline-nears-heres-how-to-report-house-property-income-in-tax-returns","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=6370","title":{"rendered":"ITR deadline nears: Here&#8217;s how to report house property income in tax returns |"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-132707182,imgsize-1119962,width-400,height-225,resizemode-4\/house-property-in-income-tax.jpg\" alt=\"ITR deadline nears: Here's how to report house property income in tax returns\" title=\"Here's how to report your house property in ITR\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"Here's how to report your house property in ITR\">Here&#8217;s how to report your house property in ITR<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>Whether you own a self-occupied house or earn rental income from a residential property, you are required to report it appropriately while filing your Income Tax Return (ITR). The Income Tax Act classifies earnings from residential and commercial properties under the head &#8216;Income from House Property&#8217;, with the method of reporting varying based on how the property is used.<span class=\"id-r-component br\" data-pos=\"2\"\/>With the deadline for filing ITRs for individuals without business income approaching, taxpayers who own residential property should ensure they report it correctly in their tax return. Whether the house is self-occupied, rented out or jointly owned, the method of reporting\u2014and the deductions available\u2014can vary depending on the property&#8217;s usage. Here&#8217;s a guide to reporting income from house property while filing your ITR.<span class=\"id-r-component br\" data-pos=\"6\"\/><\/p>\n<p><h2>Who needs to report <keyword id=\"37893289\" type=\"General\" weightage=\"20\" keywordseo=\"house-property-income\" source=\"keywords\">house property income<\/keyword>?<\/h2>\n<\/p>\n<p>Any taxpayer who owns a property during the financial year may have to disclose it while filing their ITR. This includes:<span class=\"id-r-component br\" data-pos=\"9\"\/><\/p>\n<div class=\"cdatainfo   id-r-component \" data-pos=\"10\">\n<ul>\n<li>Individuals with a self-occupied house<\/li>\n<li>Owners of one or more rented-out properties<\/li>\n<li>Co-owners of a property<\/li>\n<li>Taxpayers with vacant properties that are treated as deemed let-out under the tax rules<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"11\"\/>The income or annual value of the property is reported under the <span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">&#8216;Income from House Property&#8217;<\/span> schedule in the applicable ITR form.<span class=\"id-r-component br\" data-pos=\"15\"\/><\/p>\n<p><h2>Self-occupied vs rented property<\/h2>\n<\/p>\n<p><span class=\"id-r-component br\" data-pos=\"17\"\/>The tax treatment differs depending on whether the property is occupied by the owner or rented out.<span class=\"id-r-component br\" data-pos=\"19\"\/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Self-occupied property<\/span><span class=\"id-r-component br\" data-pos=\"21\"\/>A self-occupied house is one that is used by the owner for residential purposes. The annual value of such a property is generally considered <span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Nil<\/span>, provided the applicable conditions are met. However, taxpayers should still disclose the property details while filing their return and can claim eligible deductions, such as home loan interest, subject to the prescribed limits.<span class=\"id-r-component br\" data-pos=\"26\"\/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Let-out property<\/span><span class=\"id-r-component br\" data-pos=\"28\"\/>If a property has been rented out during the financial year, taxpayers must report:<span class=\"id-r-component br\" data-pos=\"30\"\/><\/p>\n<div class=\"cdatainfo   id-r-component \" data-pos=\"31\">\n<ul>\n<li>Gross rent received or receivable<\/li>\n<li>Municipal taxes paid, if any<\/li>\n<li>Net annual value<\/li>\n<li>Eligible deductions, including the standard deduction and home loan interest<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"32\"\/>The rental income, after permissible deductions, is taxed under the head &#8216;Income from House Property&#8217;.<span class=\"id-r-component br\" data-pos=\"34\"\/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Vacant or deemed let-out property<\/span><span class=\"id-r-component br\" data-pos=\"37\"\/>If a taxpayer owns more than two houses and the additional property (or properties) is not rented out, the additional properties may be treated as a deemed let-out property under the Income Tax Act. <!-- -->In such cases, the taxpayer may have to compute notional rental income and report it in the ITR.<span class=\"id-r-component br\" data-pos=\"41\"\/><\/p>\n<p><h2>How is income from house property calculated?<\/h2>\n<\/p>\n<p><span class=\"id-r-component br\" data-pos=\"43\"\/>For a let-out property, taxable income is generally calculated after the following adjustments:<span class=\"id-r-component br\" data-pos=\"45\"\/><\/p>\n<div class=\"cdatainfo   id-r-component \" data-pos=\"46\">\n<ul>\n<li>Gross Annual Value (GAV), or the rent received\/receivable<\/li>\n<li>Less: Municipal taxes paid by the owner<\/li>\n<li>Net Annual Value (NAV)<\/li>\n<li>Less: Standard deduction of 30% of the Net Annual Value<\/li>\n<li>Less: Eligible deduction for interest paid on a home loan under Section 24(b)<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"47\"\/>The resulting figure is the taxable income (or loss) from house property that is reported in the ITR.<span class=\"id-r-component br\" data-pos=\"50\"\/><\/p>\n<p><h2>How to report house property in your ITR<\/h2>\n<\/p>\n<p><span class=\"id-r-component br\" data-pos=\"53\"\/>While filling the &#8216;Income from House Property&#8217; schedule, taxpayers may need to provide details such as:<span class=\"id-r-component br\" data-pos=\"55\"\/><\/p>\n<div class=\"cdatainfo   id-r-component \" data-pos=\"56\">\n<ul>\n<li>Nature of the property (self-occupied or let-out)<\/li>\n<li>Address of the property<\/li>\n<li>Rental income received, if applicable<\/li>\n<li>Municipal taxes paid<\/li>\n<li>Interest paid on a housing loan<\/li>\n<li>Details of co-ownership, if the property is jointly owned<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"57\"\/>Keeping documents such as the home loan interest certificate, municipal tax receipts and rent agreements handy can help ensure accurate reporting.<span class=\"id-r-component br\" data-pos=\"60\"\/><\/p>\n<p><h2>Which ITR form should you use?<\/h2>\n<\/p>\n<p>The ITR form depends on the taxpayer&#8217;s income profile and the number of properties owned.<span class=\"id-r-component br\" data-pos=\"64\"\/><\/p>\n<div class=\"cdatainfo   id-r-component \" data-pos=\"65\">\n<ul>\n<li><strong>ITR-1<\/strong> can be used by eligible individuals with income from salary, one or more eligible house properties (subject to the form&#8217;s conditions), and other specified sources.<\/li>\n<li><strong>ITR-2<\/strong> is generally applicable where the taxpayer does not qualify for ITR-1, including in certain cases involving multiple properties or more complex income situations.<\/li>\n<\/ul>\n<\/div>\n<p>Taxpayers should verify the eligibility conditions before selecting the appropriate form.<span class=\"id-r-component br\" data-pos=\"67\"\/><\/p>\n<p><h2>Common mistakes to avoid<\/h2>\n<\/p>\n<p>While reporting house property income, taxpayers should avoid:<span class=\"id-r-component br\" data-pos=\"71\"\/><\/p>\n<div class=\"cdatainfo   id-r-component \" data-pos=\"72\">\n<ul>\n<li>Failing to report rental income<\/li>\n<li>Claiming incorrect home loan interest deductions<\/li>\n<li>Choosing the wrong ITR form<\/li>\n<li>Incorrectly reporting jointly owned property<\/li>\n<li>Omitting property details or eligible deductions<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"73\"\/>Accurate reporting of house property income not only helps taxpayers claim the deductions they are entitled to but also reduces the chances of discrepancies, notices or delays in the processing of their income tax return.<span class=\"id-r-component br\" data-pos=\"75\"\/><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/real-estate\/news\/itr-deadline-nears-heres-how-to-report-house-property-income-in-tax-returns\/articleshow\/132706951.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s how to report your house property in ITR Whether you own a self-occupied house or earn rental income from a residential property, you are required to report it appropriately while filing your Income Tax Return (ITR). The Income Tax Act classifies earnings from residential and commercial properties under the head &#8216;Income from House Property&#8217;, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-6370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Here&#8217;s how to report your house property in ITR Whether you own a self-occupied house or earn rental income from a residential property, you are required to report it appropriately while filing your Income Tax Return (ITR). The Income Tax Act classifies earnings from residential and commercial properties under the head &#8216;Income from House Property&#8217;, [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36"],"magazineBlocksPostViewCount":1,"magazineBlocksPostReadTime":4,"magazine_blocks_featured_image_url":{"full":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg",400,225,false],"medium":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg",300,169,false],"thumbnail":["https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/07\/house-property-in-income-tax.jpg",150,84,false]},"magazine_blocks_author":{"display_name":"admin","author_link":"https:\/\/koshalsambada.in\/author\/admin"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"#\" class=\"category-link category-link-31\">\u0b26\u0b47\u0b36 \u0b2c\u0b3f\u0b26\u0b47\u0b36<\/a>","_links":{"self":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/6370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6370"}],"version-history":[{"count":0,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/posts\/6370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=\/wp\/v2\/media\/6371"}],"wp:attachment":[{"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koshalsambada.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}