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How do i claim home loan interest deduction in itr 2?
I am trying to fill ITR-2 myself for the first time and have few doubts. How do I claim deduction of the amount paid towards home loan interest in ITR-2? If I put the amount in schedule-HP in the cell for interest payable for borrowed capital (h), things are coming corectly but ultimately it is not getting deducted from my salary amount, rather in part-B TI-TTI, it is shown to be carried forward to next year. Why is it so? I thought this amount is to be deducted from my net salary.
second doubt: Exactly how do I claim deduction for professional tax from salary? Please indicate the proper schedule and the cell for this. Thanks for your suggestions.
Replies (3)
1. If you are using Excel utility....
click on 'Calculate tax' tab given on Part B - TI- TTI .....
& keep habit of validating each page for any error/missed cell ..
2. Schedule S.... sr. no. 5..... Deduction u/s. 16 .....
Many many thanks for your kind help! my problems are solved!
One more doubt: should I show my interest income (from bank fixed deposits and savings account together) in sechedule OS at interest cell ("excluding taxable at special rate") and then claim deduction for savings a/c interesst in schedule VI under 80TTA (amount being less than Rs10000)? Actually the doubt is, there is also a cell for interest income in schedule EI (exempt income) what is the purpose of this then?
God Bless.........
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