How to declare home loan investment (principle and interest)

Hello Sir,

I have just taken home loan in september month and first emi will be deducted from first week of October. I want to know what documents i can ask the bank to provide so that i can give the declaration to my employer. Moreover i want to know about LOHP(Loss on the house property) and Registry/Stamp fee under the 80c section. In which section i can declare the principle amount.

Thanks

Replies (8)
  1. You need to provide interest/principal repayment certificate from the lender to the employer.
  2. Registration, stamp duty charges and also the repayment of principal can be claimed as deduction u/s 80C

So can bank provide the interest certificate in advance as my emi will start from the next month ?

Also please guide me about LOHP section under 80c section.

You will get HSG loan repayment certificate yearly in the month of April next year.

You need to take this in next AY -2016-17. when you file return in June/July 2016.  

You will get certificate for six months  Oct to March.

relax till then

Thanks for this information.

You can ask your bank to issue a Provisional Certificate for current year (for the purpose of tax planning) and ask them to mention provisional interest and principal amount to be paid by you till 31.03.16. 

A provisional certificate can be issued by the bank which you can give to your employer for claiming deduction. However at the end of financial year, you need to ask for principal and interest certificate for claiming deduction u/s 80C or section 24(b) when assessment is to be considered.

Thanks to all of you for your suggestion. In my employer's declaration form there are 2 section under 80c. One is "loss on house property" and registry/stamp fee.So I want to know under which section I have to declare principle payment.

80c is the section for principal payment. In loss from house property interest on loan has to be shown

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