Interest on House building loan ...

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2011 I have received IT intimation u/s 143(1) and I wish to submit rectification u/s 154 of CPC.

I have paid interest of Rs.41000 on the borrowed capital for house building. I have wrongly placed the amount in Schedule VIA, and now I wish to rectify. I refer to the ITR2 file that is available at the IT website. I go to Schedule HP and enter the value 41000 at (g). Ideally a change should be observed in the box of C at the bottom. But it does not. Similarly, I visit Schedule CYLA. No matter wherever on the column 2 I place the figure 41000, nothing is reflected on cell 2(vi). As a result nothing s reflected at item 6 of Part B - TI.

Now my question is how do I put forward my claim of relief for interest on the borrowed capital for house building? kindly suggest.

vinu vasudevan

vinu vasudevan (Expert)

08 February 2011 Dear Friend,

U just forward a letter to the concerned AO for the rectification U/s 154.Plz attach a copy of the Bank Interest confirmation from the concerned Bank.

Guest

Guest (Expert)

09 February 2011 You may not be acquainted with the On-line returns. Take help of any expert and get your return revised.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now