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house loan interest in itr1

subrahmanyam.k (accounts) (178 Points)

31 December 2018

dear
sir
where to show house loan interest in itr 1

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6 Replies

Chand Basha (130 Points)
Replied 31 December 2018

housing loan interese will comes under section 24.In ITR -1; House property/ interest payable on borrowed capital, We can show in this column.

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PARVEEN DAHIYA (181 Points)
Replied 31 December 2018

house loan repayment is for deduction u/s 80c and 24b.

principal amt is allowed u/s 80c and interest amt is allowable u/s 24b of house property head. in itr 1 after the complition of salary head there is income from house property in shown in negative or amt show in intt on loan.

soma chandrika sangoju (0) (96 Points)
Replied 31 December 2018

Sir,
In case of self-occupied property then the limit for principal u/s 24[i.e., income from house property]is 2,00,000 lacs

PARVEEN DAHIYA (181 Points)
Replied 31 December 2018

there is no limit for principal payment which are allowed u/s 80c but for self occupied property maximum interest is allowed 200000 under sec 24b under house property head