If you own a house property, you may need to report its details while filing your Income-tax Return. This includes a self-occupied property, a let-out property, or a property treated as deemed let-out.

Follow the steps below to add your house property details on myITreturn.

Step 1: Log in to myITreturn

Visit myITreturn.com and log in using your registered credentials.

Step 2: Select the member

Select the member or taxpayer for whom you want to file the Income-tax Return.

Step 3: Continue with Self Filing

Click Continue Self Filing to proceed with preparing the return.

Step 4: Open the House Property section

From the income sections displayed on the screen, click House Property.

Step 5: Click “Add House Property”

Click Add House Property to enter the details of a new property.

If you own more than one property, add each property separately.

Step 6: Select the property type

Select the appropriate property type based on how the property was used during the financial year.

• Self-occupied: The property was used by you or your family for residence.
• Let-out: The property was rented to a tenant during the year.
• Deemed let-out: The property is treated as let-out under the applicable tax provisions, even if no rent was received.

Step 7: Enter the property details

Enter the information requested on the screen. Depending on the property type selected, this may include:

• Complete address of the property;
• Your ownership percentage;
• Rental income received or receivable;
• Municipal taxes paid;
• Interest paid on a home loan;
• Tenant details, wherever required; and
• Details of joint owners, if the property is jointly owned.

Enter the figures carefully and ensure that the home-loan interest amount agrees with the interest certificate issued by the lender.

Step 8: Review and submit

Review the property details entered and click Submit to save the information.

Conclusion

Your house property details will be considered while calculating income or loss under the head “Income from House Property.” Review the final tax computation before submitting your Income-tax Return to ensure that the rental income, deductions and home-loan interest have been considered correctly.

For Assisted Service, please WhatsApp us on +91-9320546101 or raise a support ticket here