TDS on Salaries. sec.192
This query is : Resolved
08 May 2009
In form 16,how is repayment of housing loan to be disclosed in deductions from GTI?. Should interest part of the loan also be taken as a deduction under chapter VI A?
CA MEENAKSHI MANGLA
(Expert)
08 May 2009
in form 16, it should be considered as a deduction under chapter VI A
CA.MANOJ LAMBA
(Expert)
08 May 2009
NO INTEREST PART OF HOUSING LOAN SHOULD BE SHOWN UNDER HEAD ANY OTHER INCOME REPORTED BY EMPOLYEE & DEDUCTION OF HOUSING LOAN INTEREST IS AVAILABLE ONLY UNDER SECTION 24 . AS REGARDS PRINCIPAL AMOUNT, IT IS ALLOWED U/S 24 ONLY
THANKS
THANKS
CA Nitin Wadhwani
(Expert)
09 May 2009
Repayment of principal in a housing loan is allowed u/s 80C and not under Sec.24.
taxindiaconnect
(Expert)
09 May 2009
Agree with Manoj Lamba.
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