16 March 2009
Sir I wanna know that client(individual) have forgotten to show housing loan taken few year ago and also property in Last year's returns and also not claimed deduction u/s 80C and now i wanna know that whether that loan & property can be shown in current year return & B/s. What is the procedure, compliance and tax implications in this case and whether client can claim 80C of loan installment paid and interest U/s 24 in current year ?
16 March 2009
It APPEARS to be difficult without filing revised returns for previous years.
If you could furnish details relating to-- in which FY the individual took home loan, in which FY first EMI repayment is made, whether he filed his returns earlier on time etc., Experts participating in this Forum could throw some light
CAclubindia
