my client having income from salary. u/s.80C dedn. is Rs.87187/- including repayment of principal amount of housing loan. Interest on housing loan is Rs.50,001/-. total amt. of dedn. become 137187/-
In ITR1 in 80C coloumn amount more than Rs.1 lac is not accepting.
My question is where to show interest amount on housing loan in ITR1.
Interest on Housing loan don't claim under 80C but claim it under Section 24 b... Income under the head house property i.e you will have negative income in House property and can be setoff against Salary Income.
CAclubindia
