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House property - loan

ITR 226 views 6 replies

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

 

 

Replies (6)
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.
and int from 1 apr 16 to 31/3/17 u/s 24(b)

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

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

Got it. Thanks a lot Rashmi

Welcome...........


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