Home loan

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 June 2014 Please tell me the treatment of Home Loan Instalment and Intrest for Salaried Employee in ITR Filling...??

09 June 2014 Home loan:-

Principal Amount can b claimed in 80C
And interest will go to deduction u/s 24b in Income from House Property.

09 June 2014 if there is only one house and exempt income is less than Rs 5000, you can file ITR1. else (if there is no business income) file ITR2.

you need to fill "House_Property" sheet. and mention interest in row "Interest paid on borrowed capital"

09 June 2014 if there is only one house and exempt income is less than Rs 5000 then file ITR(1)

If there are more than one house or exempt income is more than Rs 5000 (and there is no business income), File ITR2.

you need to mention the same in "House_property" sheet. interest paid is to be mentioned in row "interest payable on borrowed capital"

Principal repayment is to be shown in sheet "80_"


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Follow us
OR add as source on Google news


Answer Query