Taxmann
Querist : Anonymous
Can anybody tell where to show interest on home loan in TAXMANN.
Help plzzzzzzzzz
Querist : Anonymous
Please assist.
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### 🔍 **Where to show Interest on Home Loan in Taxmann?**
It depends on **which type of ITR** you're filing (most likely ITR-1 or ITR-2 for salaried individuals).
#### ✅ If you are a **Salaried Individual** and filing **ITR-1 (Sahaj)**:
1. **Go to: "Income Details" or "Salary" section**
2. Under **Income from House Property**, enter:
* Type of property: **Self-occupied** (if you live in it) or **Let out**
* **Gross Annual Value** = ₹0 (if self-occupied)
* **Interest on Borrowed Capital**: Enter **negative amount** (e.g., `-200000`)
* Maximum limit for self-occupied property: ₹2,00,000
3. The software will automatically compute the loss under "Income from House Property" and adjust it against your income.
#### ✅ If you're using **Taxmann's online portal/software**, it should be:
> **Section: Income from House Property → Self-occupied Property → Interest on housing loan**
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### 📝 Additional Tips:
* **Principal repayment** (u/s 80C) is shown separately under **Deductions → Section 80C**.
* Keep **loan certificate** from bank/HFC as proof.
* If it's a **pre-construction interest**, claim it in **5 equal installments** starting from the year of possession.
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Let me know the **exact version** of the Taxmann software or whether you're using their **web version**, and I can give more tailored navigation!
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