A house property can be anything that is attached to the land; it could be a house, an office, a shop, or even a structure.

The Income Tax Department makes no distinction between a commercial establishment and a primary residence. Under the income from house property head, all properties are taxed with a deduction allowed u/s 24 of the Income Tax Act.

Here's your document checklist and a complete guide on House Property & taxes.

To add House Property Income on Quicko:

  • In the Filing tab, navigate to INCOMES > HOUSE PROPERTY from the side nav
  • Choose Your House Property Type, applicable to you
  • Enter the required details
    • House Property Address
    • Annual rent received
    • Property tax paid
    • The interest amount paid on the loan, if any
    • Tenant details: Name & PAN
    • In case of any co-owners, add ownership details
  • Click on Save

You will land on the summary screen once the details have been entered.

Under the old tax regime, you can claim deduction for interest paid on home loan u/s 80C. 
However, if certain conditions are fulfilled, you can also claim deduction u/s 
    1. 80 EE (First time Home Buyer)
    2. 80 EEA (For Affordable Housing)