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Discussion > Income Tax > Tax queries >

Provisional Certificate of housing loan

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Executive

[ Scorecard : 224]
Posted On 03 March 2009 at 07:59 Report Abuse

hi,

in our company most of employees availed housing loan to get benefit of income tax

i asked them to get the provisional certificate, most of them brought the certificates

but i have doubt in provisional ceritificate which was produce by the employee. in that copy

two names are mentioned his name and his wife.

employee is saying that my wife is not claiming any benefit

what should i do regarding this

Please help me

 

 


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CA.Tarun Maheshwari
CA, DISA

[ Scorecard : 7067]
Posted On 03 March 2009 at 11:21

Take a declaration from them in this regard.



Total thanks : 1 times




CA CS VINAYAK PATIL
CHARTERED ACCOUNTANT

[ Scorecard : 921]
Posted On 03 March 2009 at 11:26

Originally posted by :harinath
" hi,
in our company most of employees availed housing loan to get benefit of income tax
i asked them to get the provisional certificate, most of them brought the certificates
but i have doubt in provisional ceritificate which was produce by the employee. in that copy
two names are mentioned his name and his wife.
employee is saying that my wife is not claiming any benefit
what should i do regarding this
Please help me
"

 

You have not claim interest on Housing Loan because it is not taken from any Financial Institution or Bank. The Interest amount if less than Bank Interest Rate then it is chargeable as perqusites.




chetan
Student

[ Scorecard : 317]
Posted On 04 March 2009 at 17:30

You should take decleration from the employee in form 12c




Sorabh Gupta
Manager ( Taxation )

[ Scorecard : 872]
Posted On 04 March 2009 at 18:55

Mr Hari nath

As firsty , prepare a declaration form of investment then same give to all employees for their investment. About house loan take a certificate from employee which is prepared by Bank in the name of employee in which they mention all the details like Principal amount & interest for the finacial year . As u mention that in provisional certficate two names are mentioned i.e. his & his wife . There is no issue regarding it as both can claim the House loan & interest.



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