Deduction u/s 24(b) and 80c
This query is : Resolved
10 December 2015
POSSESSION OF HOUSE IS TAKEN IN NOV 2015.
HOWEVER, DEDUCTION WAS TAKEN TOWARDS INTEREST ON BORROWED CAPITAL AND PRINCIPAL AMOUNT TOWARDS REPAYMENT OF LOAN IN A Y 14-15 & 15-16 BY THE EMPLOYER IN FORM 16. THE IT RETURNS WERE EFILED ACCORDINGLY.
IS THE TREATMENT CORRECT AND IF NOT CAN REVISED IT RETURNS CAN BE FILED ?
HOWEVER, DEDUCTION WAS TAKEN TOWARDS INTEREST ON BORROWED CAPITAL AND PRINCIPAL AMOUNT TOWARDS REPAYMENT OF LOAN IN A Y 14-15 & 15-16 BY THE EMPLOYER IN FORM 16. THE IT RETURNS WERE EFILED ACCORDINGLY.
IS THE TREATMENT CORRECT AND IF NOT CAN REVISED IT RETURNS CAN BE FILED ?
10 December 2015
no. it is not correct. yes, the return can be filed to correct the errors.
11 December 2015
CAN INTEREST PAID BE TAKEN IN 5 EQUAL INSTALMENTS ?
ALSO CAN I REVISE RETURN FOR A Y 14-15 ?
ALSO CAN I REVISE RETURN FOR A Y 14-15 ?
11 December 2015
well once you revise the returns, interest will be available in five equal installments from AY 2016-17 as the possession has been taken in November 2015
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
