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.
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
CAclubindia
