Housing loan interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2013
Dear sir/madam,
i am working with government. i have taken housing loan from sbi..
how much interest i have to show in income tax returns whether the interest rate they charge on housing loan or the interest amount which includes in monthly emi.
regards,
vijay
i am working with government. i have taken housing loan from sbi..
how much interest i have to show in income tax returns whether the interest rate they charge on housing loan or the interest amount which includes in monthly emi.
regards,
vijay
25 January 2013
You can claim the interest payable during the previous year on accrual basis irrespective of the fact whether your last 2-3 emis are still pending.
.
You have not to claim on the fixed rate of interest as your interest reduces as you pay certain principal amount also in an emi.
.
If your EMIs are regularly paid -take the interest amount included in EMI.
.
.
You have not to claim on the fixed rate of interest as your interest reduces as you pay certain principal amount also in an emi.
.
If your EMIs are regularly paid -take the interest amount included in EMI.
.
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