80c deduction
This query is : Resolved
19 February 2014
As an Accountant of a private company, I received Housing Loan statement & certificate of an employee of our company. The thing is, he resigns in february 14. So I can take the 11 months principal & interest only.
The bank certificate shows the full year's principal & interest. The Statement shows the EMI amounts. But rate of interest also changes in few months. Under 80C, i can show principal alone, right? My doubt is how to split the EMI into principal & interest?
Can anyone please help?
As an Accountant of a private company, I received Housing Loan statement & certificate of an employee of our company. The thing is, he resigns in february 14. So I can take the 11 months principal & interest only.
The bank certificate shows the full year's principal & interest. The Statement shows the EMI amounts. But rate of interest also changes in few months. Under 80C, i can show principal alone, right? My doubt is how to split the EMI into principal & interest?
Can anyone please help?
20 February 2014
You can consider full year’s principal and interest. Please make sure that EMI's are duly paid.
20 February 2014
Thank you Mr. Neljo Davis. But if someone resigns in the middle of the year, say, october 2013, then how to split the EMI?
20 February 2014
Either request for EMI Schedule showing principle and interest portion separately or verify the loan account statement. Interest portion will be debited to the loan account on due date.
20 February 2014
Thank you Mr. Neljo Devis.
Thank you Mr. Neljo Devis.
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