Income tax return
This query is : Resolved
05 April 2020
Sir/Mam,
I have booked a RESIDENTIAL FLAT. In which 40/% is Self Funding and rest will be i.e. 60% from loan by Bank. Which is already Sanction but due to CORONA it was not executed in March 20. My question is that how will be show the paid amount (self funding) while filing income tax return computation for AY 20-21. This is 1st time home purchase .KINDLY ADVISE ME THANKS
PR SHARMA MUMBAI
I have booked a RESIDENTIAL FLAT. In which 40/% is Self Funding and rest will be i.e. 60% from loan by Bank. Which is already Sanction but due to CORONA it was not executed in March 20. My question is that how will be show the paid amount (self funding) while filing income tax return computation for AY 20-21. This is 1st time home purchase .KINDLY ADVISE ME THANKS
PR SHARMA MUMBAI
05 April 2020
Show it as advance for purchase in the balance sheet. No need to show the amount in case no balance sheet furnished in the return.
06 April 2020
seetaraman Sir I was unable to under stand Show it as advance for purchase in the balance sheet.
it will be provision of home purchase or what pl clear it..
Also want to know paid GST amount can get ITC while GST filing individual
it will be provision of home purchase or what pl clear it..
Also want to know paid GST amount can get ITC while GST filing individual
06 April 2020
It's only advance payment show it as advance.
No ITC can be claimed on GST of house purchase.
No ITC can be claimed on GST of house purchase.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Long Term Service award taxability in hands of company
- Free lancer income
- LTCG for Assmt year 26-27
- REGARDING GST LIABILITY/....
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
