What If You Receive Arrears After Paying Your Total Income Tax For The Financial Year?

The answer to your question will depend on various factors like the tax regime opted, the amount of rent received and whether a home loan is taken to buy the house.

So, if your gross total income, i.e. the income before giving effect to various deductions available under Chapter VIA, like section 80 C, 80 D, 80 TTA, etc., in India for the previous year ended 31st March 2026, exceeded the basic exemption limit, you have to file your ITR here in India. If you opt for the old tax regime, the basic exemption limit varies depending on your age. It is Rs. 2.50 lakhs for a normal individual, Rs. 3 lakhs for an individual between 60 years and Rs. 5 lakhs for an individual above 80 years of age. If you opt for the new tax regime, Rs. 4 lakhs is the basic exemption limit irrespective of your age.

The taxable income from house property is taxed under the head Income from house property. Taxable income in respect of rent is computed by deducting a flat 30 per cent from the gross rent received. In the case of a home loan, the actual amount of interest is allowed to be deducted as the property is let out under the old tax regime. If you opt for the new tax regime, the deduction in respect of a home loan is restricted to taxable income in respect of rent.

So, if the above computation of your rental income, together with any other income, exceeds the basic exemption limit applicable to you, you will have to file your ITR here.

For income tax purposes, HUF and its Karta are distinct and separate tax entities. There is nothing under the income tax laws providing for any restrictions in respect of allowance of HRA for rent paid to the HUF in which the payer is Karta or a member. Since the HUF is already filing the tax return showing the rental income, I do not think there should be any problem in you claiming the HRA benefit.

You will have to add this sum of 68,000 to your other income and find out your total tax liability. Out of the total tax liability, reduce the TDS and advance tax, if any, paid by you. The balance is the tax liability which you need to discharge now. Any shortfall in your tax liability which is not met by either TDS or advance tax can be discharged by way of self-assessment tax at the time of filing the ITR or even prior to that, after the end of the financial year.

You will not have to pay any interest if you have completed 60 years and do not have any income taxable under the head “Profits and Gains of Business or Profession”, and you pay the balance tax while filing your ITR, but not later than the due date of filing the ITR.