Self occupied Joint Home

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Naveen4792 asked 5 years ago

Sir, I have single Jointly owned house owned jointy by 2 other family members also. This single house is self occupied by all three owners. There is no income from this house Then which ITR form to use for filing income tax return for AY 2020-21 and how to show this in ITR form?

5 Answers

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Sreekanth Staff answered 5 years ago

Hi, May I know if the Property title (Registration) is on your three member names??

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Naveen4792 answered 5 years ago

Yes Sir Property is registered in the names of three of us in equal shares.

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Sreekanth Staff answered 5 years ago

Hi, You can show the 'income from house property' calculations proportionately as per your share in the property. The rental income would be NIL and you can claim 30% standard deduction. Kindly read :

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Naveen4792 answered 5 years ago

Sir, Can i submit in ITR1 as it is self occupied joint property or other ITR form to be used

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Sreekanth Staff answered 5 years ago

Kindly read : AY 2020-21 Income Tax Return Filing Tips | Which ITR Form should you file?