banner_ad

House loan interest deduction

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 May 2012 MY GROSS INCOME OF FY 2011-12 IS 262226 RS.
I HAVE PAID RS. 155000 AS A HOUSE LOAN OUT OF WHICH INTEREST IS 46630 RS AND RS. 108370 IS REPAYMENT OF HOUSE LOAN..

WHAT WILL BE MY TAXABLE INCOME FOR FY 2011-12
Profile Image

swasti

Profile Image

swasti (Expert)
09 May 2012 Considering that there is no other investment made by you, the taxable income for FY 2011-12 as per details given by you works out to Rs 115596/-.
Profile Image

Ravi Jhamb

Profile Image

Ravi Jhamb (Expert)
09 May 2012 Gross Total Income - 262226
Less:- Int on house loan - -150000

Taxable Income = 112226
Profile Image

Guest

Profile Image

Guest (Expert)
09 May 2012 Agree with Swasti.

Taxable income is Rs 115596

Ravi.. interest on housing loan is Rs 46630 only and Rs 1 lakh will be towards principal repayment.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details