House property - loan

ITR 177 views 6 replies
User Avatar

Finance Professional
37 Points Joined August 2015

Hello Forum,

I bought a home 1.5 years back, got the possession in DEC 2016 and moved in MAY 2017. Till then I was staying in my rented home and claiming HRA. I repaid my loan in APRIL 2017.

Let me know how should i show my house property for AY 17-18, 

TYPE OF HOUSE PROPERTY: Let out / Deemed Let out / Self Occupied.

INTEREST/PRINCIPAL: How and where do i enter the interest and principal components in the ITR

Thank You 

Kishore

 

 

0 Reply Share Follow
On 26 June 2017 at 19:44 Report
Replies (6)
User Avatar

Chartered Accountant
86505 Points Joined April 2011
Type: Self Occupied

Interest of 16-17+ 1/5 of interest from date of loan till 31 March 2016 will be shown as negative income in H.P.head max upto 200000

Principal payment allowed as deduction u/s 80C.
Reply
On 26 June 2017 at 21:20
User Avatar

student
48 Points Joined October 2014
and int from 1 apr 16 to 31/3/17 u/s 24(b)
Reply
On 26 June 2017 at 22:49
User Avatar

Finance Professional
37 Points Joined August 2015

Thanks a lot. M using JAR utility and it doesnt allow me to ENTER NEGATIVE amounts in it.

Reply
On 27 June 2017 at 09:44
User Avatar

Chartered Accountant
86505 Points Joined April 2011

There must be an option either to enter negative amt or Interest amount

Reply
On 27 June 2017 at 15:19
User Avatar

Finance Professional
37 Points Joined August 2015

Got it. Thanks a lot Rashmi

1 Reply
On 27 June 2017 at 17:21
User Avatar

Chartered Accountant
86505 Points Joined April 2011
Welcome...........
Reply
On 27 June 2017 at 19:45


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading