Computation of loss from house property in itr 4 rpu

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This query is : Resolved

Junaid (Querist)

01 August 2011 Dear All,

I have a problem in computation of loss on house property,
One of my client is having income from profession and no income from house property, but he have housing loan in which he has paid Rs.70080/ as interest in the F.Y. 2010-2011, now i want to file e-return, but when i am entering amount of Rs.70080/- in schedule income from house property, in interest on borrowed capital coloumn, it is not refelecting in the final total of 4C, similarly, it is also not refelecting in the CYLA schedule, and i am not able to change the cell bcoz it is password protected. bcoz of this he is not able to get setoff against current year loss and his income is going taxable. So, can anyone tell me what i am doing wrong or how should i take setoff from loss on house property and file e-return.
Please this is very urgent.

Thanx in advance

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

02 August 2011 In the schedule HP

Whether you have selected the option of self occupied property, properly.

First fill up

a. the annual letable value/ rent Received as ..... 0

and then fill up ITEM NO g of the table.
Interest payable on borrowed Capital

Income from House Property - will show a negative figure.
*
If -70080 does not appear- Repeat as-

a. the annual letable value/ rent Received as ..... 1111

If the program does not respond correctly
then certainly problem exists.

Contact the Programmer in such a case.

Message likes : 1 times

Junaid

Junaid (Querist)

02 August 2011 Yes Sir, I selected the coloumn stating that, is property let out to NO, but still there is no change in the situation, I hope this is the problem of the utility provided by Income tax department, you can also check this by downloading any ITR 4 return preperation utility for A.Y. 2011-2012 from any site

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