House property tax starts with classification. A property can be self-occupied, actually let out, or deemed let out. The classification drives annual value, deduction and ITR reporting.
| Type | Official treatment control |
|---|---|
| Self-occupied property | Official guidance says annual value is nil, with housing-loan interest deduction subject to limits. |
| Let-out property | Annual value is based on rent/expected rent principles and deductions are computed accordingly. |
| Deemed let-out property | Annual value is computed based on expected rent where property is not treated as self-occupied. |
| Vacant property | Needs facts on whether it was let-out, intended to be let, or self-occupied. |
Before filing, prepare a property-wise schedule rather than trying to compute everything inside the ITR utility.
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Official guidance says annual value of a self-occupied property is nil subject to conditions.
A property not actually let out may still have annual value computed as deemed let-out based on expected rent rules.
Official deemed-let-out guidance states municipal-tax deduction is not available for self-occupied property.