Any property, including a house, a building, an office, or a warehouse, is considered a house property where income arises in the form of a rental income or on its transfer and is taxed at a slab rate.
There are three types of house property income:
- Self-occupied house property
- Let out
- Deemed Let out
Steps to add the house property income:
- Tap on the Filing tab (the second last icon) from the bottom.
- Tap to work on your tax return.
- Tap on the '+' icon on the lower right hand side of the screen, then on the house property.
- Pick the type of your property's income and enter the required details.
- Once the details have been entered, you will land on the summary screen.
Here are the screenshots for your reference.
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Note: Under the old tax regime, you could claim a deduction for interest paid on a home loan u/s 80C. However, if certain conditions are fulfilled, you can also claim a deduction u/s 1. 80 EE (First-Time Home Buyer) 2. 80 EEA (For Affordable Housing)
Here's a complete guide on House Property & Taxes