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Form16&ITR
In Form 16 issued by employer only Housing loan interest is shown not the principal and further that interest is nit matching with loan statement issued by LIC( loan is taken from LIC) now what to show in ITR details as per form 16 or actual details as per loan statement
Replies (5)
Actual details as per loan statement.
thanks Sir
Form-16 is used as ONE of the main sources for filling & filing of ITR for assessees having salary income. Hence the details shown in Form-16 shall be considered in ITR to the extent they r true & correct. Also it is very common that there may be some items of income or deductions need not be / not considered by the employer. Incase of any mismatch with actual figures / additional details to be included , they shall be included while filing ITR. In such a case the tax payable or Refund shown in Form-16 may vary from that of ITR. There is nothing wrong in that & as as a Tax consultant / ITR preparer it is our duty to provide all the required information to the Govt.
And simply replying to ur query, take the figures as per loan statement provided by the bank / Financial institution .
thank you so much sir.....
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