Tax planning
Return with rent from two or more properties and home loan interest, Sec 24(b)
What this means, checked by a CA
If you own several houses, each one is taxed on its own rules: rent less municipal tax and a flat 30%, minus loan interest. We work out each property, apply the ₹2 lakh limits correctly for your regime, carry forward any loss, and file the right ITR.
₹2,499
a year, + 18% GST
- Delivered in 2 working days after rent and loan papers
- Due: AY 2026-27: due 31 July 2026 (passed) for non-business filers. Belated return up to 31 December 2026, but a house property loss of a late return cannot be carried forward.
How we do it: IDFD
Every case runs through the same four steps: Information, Discussion, Forms, Deliverables. You see each one ticked as it happens.
InformationWhat we need from you · 8 items
Rent agreements and rent received
Gross annual value
Municipal tax receiptsOptional
Deductible if you paid
Home loan interest certificates
Interest per property
Possession or completion dateOptional
Pre-construction interest and caps
Co-ownership and loan shareOptional
Split income and interest
Vacancy periodsOptional
Annual value check
Form 26AS and AIS
Rent TDS by tenants
Last year's ITR loss scheduleOptional
Brought forward HP loss
DiscussionWhat we discuss · 6 items
Which one or two houses do you live in, and which are let out or vacant?
Self-occupied versus deemed let out
Old or new regime?
Interest and set-off rules differ
Who are the co-owners and who pays the loan?
Share of income and interest
Was any loan taken for repair or was construction delayed past five years?
₹30,000 cap
Any interest paid before construction was completed?
Claimed in five instalments
Any house property loss from earlier years?
Carry forward against house income only
FormsForms we file · 5 items
Classify each property: let out, self-occupied (up to two) or deemed let out
Where: Internal. Due: Before filing
Compute income property by property
Rent less municipal tax = net annual value; less 30%; less interest. Example: let-out flat rent ₹3,00,000, municipal tax ₹10,000, interest ₹4,50,000 gives loss ₹2,47,000
Where: Internal. Due: Before filing
Apply set-off and carry forward by regime
Old regime: add self-occupied interest ₹1,80,000, total loss ₹4,27,000; set off ₹2,00,000, carry forward ₹2,27,000 for 8 years. New regime: self-occupied interest not allowed and the loss does not reduce salary
Where: Internal. Due: Before filing
Choose ITR-1 (up to two house properties, no loss to carry forward) or ITR-2, fill Schedule HP per property
Where: https://www.incometax.gov.in. Due: Before submitting
Pay any balance tax, file and e-verify
Where: https://www.incometax.gov.in. Due: Belated by 31 December 2026 for AY 2026-27; verify within 30 days
DeliverablesWhat you get · 3 items
Property-wise computation sheet
When: With filing
ITR acknowledgement
When: Same day
Loss carry forward schedule
When: With filing
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