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How to file ITR-1 with rental income?

Updated on: Jul 24th, 2023


6 min read

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Budget 2021 update: It has been proposed to exempt the senior citizens from filing income tax returns if pension income and interest income are their only annual income source. Section 194P has been newly inserted to enforce the banks to deduct tax on senior citizens more than 75 years of age who have a pension and interest income from the bank.

The form ITR-1 allows individual residents in India to file an income tax return for income up to Rs 50 lakh. You can report income from salary, one house property, other sources and agricultural income up to Rs 5,000. In this article, we will tell you the procedure for filing your income tax return with rental income through ITR-1.

Details of an individual taxpayer

Enter your complete name, gender, date of birth, PAN and father’s name. You need to enter their postal address, mobile number, and e-mail address as well.

Upload form 16 for income from salaries

Declare your ‘income sources’. You must report the income from the salary. The details include:

  • Name of the employer
  • Type of employer
  • Break-up of income from salary
  • TDS on salary
  • TAN of employer

Alternatively, you can upload your form 16 PDF. The details of your salary get auto-populated.

Details of other income

Enter the details of your interest income, dividend and any other income other than income from business or profession or capital gains.

Details of house property

In case of a self-occupied property, mention details about:

  • Interest on housing loan paid/payable on housing loan on the property.
  • interest paid during the pre-construction period.
  • Address of the house property.
  • For a co-ownership, the name, PAN and percentage of share of co-owners in the property.

You can specify the details of the co-owners as below: In the case of a property let-out on rent, you can furnish the details below:

  • Annual rent received/receivable.
  • House tax, or municipal tax paid.
  • Name of the tenant and PAN of the tenant.
  • Interest paid/payable on housing loan on the property.
  • Pre-construction period interest.
  • Address of the property and details of co-owners if any.

In the case of a deemed to be let out property, mention the estimated annual rent receivable and other details similar to a let-out property.

Details of capital gains and business or profession

Enter the details of capital gains from the sale of any capital asset and income from business or profession.

Details of tax deductions

  • Mention the total of your investments and payments for deduction under section 80C.
  • Amount of interest on savings accounts for deduction under section 80TTA.
  • Amount of donations for deduction under section 80G.
  • The medical insurance premium paid for deduction under section 80D.
  • Interest on education loan for deduction under section 80E.
  • Other payments which are eligible for tax deductions such as contribution to NPS, other donations and expenditures.

Details of taxes paid and tax filing

  • Mention the TDS on salary income
  • Details of TDS on income other than salary
  • TDS on sale of immovable property
  • TCS collected from you
  • Advance tax paid
  • Self-assessment tax paid

After you submit the details of your income and tax/TDS, you can proceed to e-filing your income tax return.


If a property is located outside India, is it subject to tax in India?

If you currently reside in India, income from a property outside India will be taxable even if the income is not brought into India.

How should rental income be reported in ITR 1?

In ITR 1, Rental income should be reported under the category of ‘Income from House Property’

What is the difference between Section 194I and 194IB regarding TDS on Rental Income?

In section 194I, individuals or HUF are exempted from deduction of TDS on rental payments, even though the rent amount exceeds Rs. 2,40,000

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Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

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