Housing loan query

Dear members,

in a housing loan statement issued by the bank, how is the interest/principal breakup calculated, for IT claim purpose. As such the bank shows only an entry called debit interest . So what is the principal amount here and what is the interest amount here. Please advise.

 

 

Replies (2)

Dear  RS

Please talk  from Bank   how much levy interest rate dueing the F.Y. 2013-14 &  What is amount of Opening & Closing in bank statement . as Example

Fist Method

1.   Supose that EMI 3870/- p.m             3870 *12= 46440     Supose Rate of Interest is 12.5%

     Your Interest Amount is Debit 39158/- 

      Pricipal Amount should be Rs.   46440/- -39158=7282/-

2   Second Method

      Yours Opening Balance   322925/- & Closing Stock is 315643

        The Priciapal Amount is  3,22,925-315643= 7282/-

So, I Think your problem have Solved & file Easly Return.

 

Thanks  & Regards

Ramanuj


 

it is very simple... principal portion is EMI less intt debited... also ramanuj gave correct example.

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