Home loan

mohammad rasool baig

Management Consultant

997 Points Posted on 02 February 2016

Yes you can.....

Sumit Rajput

Article

71 Points Posted on 02 February 2016

Sir, I can or I have to show, which one is correct ?

mohammad rasool baig

Management Consultant

997 Points Posted on 03 February 2016

Actually While filling the individual for ITR -4 or ITR -6 we have to give the balance sheet then the issue will arise. In that case we should show it.

Otherwise we need not to give so no issue will arise regarding showing or not.

Shekhar

CA Final

78 Points Posted on 03 February 2016

If the loan is not for business purpose then no need to show it. But you can claim deduction.

Sumit Rajput

Article

71 Points Posted on 03 February 2016

But Shekgar Sir, Is there any provision or any case law through which we can prove your answer. Because I also believe that your answer is correct, but officer is not ready to believe the same. According to him, if you are filing a return for an individual, then also show his home loan also because you are not preparing separate balance sheets for business and individual.

Sumit Rajput

Article

71 Points Posted on 03 February 2016

But Shekgar Sir, Is there any provision or any case law through which we can prove your answer. Because I also believe that your answer is correct, but officer is not ready to believe the same. According to him, if you are filing a return for an individual, then also show his home loan also because you are not preparing separate balance sheets for business and individual.