Personal Finance

Your Taxes

Sanjiv Chaudhary | Updated on October 11, 2020 Published on October 11, 2020

I am a regular subscriber of The Hindu BusinessLine . I have query regarding ITR-2 Excel form provided by the government for AY2020-21. Although I am not a owner or a co-owner of any property, ITR-2 pops up with the message, ‘House Property Details Mandatory in Schedule HP’. And when we mention the property details owned completely by spouse or others, the form displays the field value for ‘your percentage of share in the property’ as 100 per cent. Why has it been made mandatory to mention property details in Shedule HP of ITR-2 even though the property is not co-owned or not in any of my relatives’ name ? How to deal with this? Is this a bug in ITR-2 of AY 2020-21.

Jeevan Patil

I understand that you are trying to file your tax return for Assessment Year 2020-21, ie, Financial Year (FY) 2019-20 and you do not own any house property during the subject financial year. We would like to mention that house property details have not been made mandatory for the purpose of filing of tax returns. Please use the link: tinyurl.com/itrutilities

The writer is a practising chartered accountant. Send your queries to taxtalk@thehindu.co.in

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Published on October 11, 2020
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