Form No.16

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ashish (Querist)
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16 March 2010 hello...i have doubt regarding showing interest on homeloan (i.e.sec 24b) in form no.16...should i disclose it in form no.16 or not..?? thanks in advance..

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2010 Pl disclose it in form 16.

ashish

ashish (Querist)
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16 March 2010 hello sir thanks for ur reply but it is not covered under chapter VI-A so where should i disclose it ? shoud i give seperate deducion us 24b...??

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2010 Clause 3.7 of Circular 1/2010 dated 11/01/2010 permits the employer to consider 24(b) claim of the employee while deducting tax. You may, therefore, include housing loan interest in clause 7 of form 16 viz., under the head 'any other income reported by the employee'.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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16 March 2010 yes.diclose in form 16

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