Home loan interest and acquisition of flat
This query is : Resolved
28 June 2014
Sir,
kindly clarify following doubt:-
- should the flat acquired (approx Rs 35 lakh) in 2013-14 be shown in ITR-2? If yes, then in which part of ITR-2?
- which part of ITR-2 should we enter home loan interest amount paid in 2013-14, to claim deduction under sec 24 of IT. In one excel form of ITR-2 available on internet, filling interest information under "Schedule HP" of ITR-2, carries forward the dedn for the next Assmnt year instead of 2014-15?
kindly clarify following doubt:-
- should the flat acquired (approx Rs 35 lakh) in 2013-14 be shown in ITR-2? If yes, then in which part of ITR-2?
- which part of ITR-2 should we enter home loan interest amount paid in 2013-14, to claim deduction under sec 24 of IT. In one excel form of ITR-2 available on internet, filling interest information under "Schedule HP" of ITR-2, carries forward the dedn for the next Assmnt year instead of 2014-15?
28 June 2014
you can file ITR-1 if your exempt income below rs. 5000/-
otherwise itr-2
your house is self occupied then you can enter the negative (-) figure in income from house property of intt. paid by you on loan up to rs. 150000/- if your intt above rs. 150000/- then upto rs. 100000 you can claim u/s 80EE . if your intt. of Rs. 100000/- not use for the f y 2013-14 then you can calim the balance of Rs. 100000/- can claim in next year.
otherwise itr-2
your house is self occupied then you can enter the negative (-) figure in income from house property of intt. paid by you on loan up to rs. 150000/- if your intt above rs. 150000/- then upto rs. 100000 you can claim u/s 80EE . if your intt. of Rs. 100000/- not use for the f y 2013-14 then you can calim the balance of Rs. 100000/- can claim in next year.
28 June 2014
you can file ITR-1 if your exempt income below rs. 5000/-
otherwise itr-2
your house is self occupied then you can enter the negative (-) figure in income from house property of intt. paid by you on loan up to rs. 150000/- if your intt above rs. 150000/- then upto rs. 100000 you can claim u/s 80EE . if your intt. of Rs. 100000/- not use for the f y 2013-14 then you can calim the balance of Rs. 100000/- can claim in next year.
otherwise itr-2
your house is self occupied then you can enter the negative (-) figure in income from house property of intt. paid by you on loan up to rs. 150000/- if your intt above rs. 150000/- then upto rs. 100000 you can claim u/s 80EE . if your intt. of Rs. 100000/- not use for the f y 2013-14 then you can calim the balance of Rs. 100000/- can claim in next year.
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28 June 2014
please file ITR2. helps you to claim carry forward of loss. and yes, it has to be covered under HP sheet
80EE deduction is available only if this your first house.
80EE deduction is available only if this your first house.
28 June 2014
Dear Sudhir,
answer to Question 1 is that you dont show the purchase in the ITR. You just show the income earned from the same and this income is shown in HP sheet along with interest deduction
answer to Question 1 is that you dont show the purchase in the ITR. You just show the income earned from the same and this income is shown in HP sheet along with interest deduction
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