Hi Sreekanth Sir,
I am government employee. i have purchased new home with housing loan on Oct 2016 where I am staying now. but I have let out my earlier house on Dec 2016 and earning rent regularly. So.kindly advice me on the following.
1) Which type of ITR form should i submit for A.Y. 2017-18
2) Also guide about under which section i should show the principle home loan amount and interest amount paid.
3) Guide about the rent received from let out property..
Regards
S.G. Gunjal
98677989**
2 Answers
Dear Gunjal,
1 - You may have to file ITR 2 form.
Kindly read :
https://www.relakhs.com/new-itr-forms-ay-2017-18-fy-2016-17/
2 & 3 - You need to disclose them under the head ' Income from House property'.
Suggested readings :
https://www.relakhs.com/understanding-tax-implications-of-income-from-house-property/
https://www.relakhs.com/budget-2017-18-important-tax-proposals/
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