How can i show car loan when i filling IT return?
Please help
How to show Car Loan details on income tax return?
Dipankar Das (Accountant) (31 Points)
10 July 2018
Dipankar Das (Accountant) (31 Points)
10 July 2018
RAJA P M
("Do the Right Thing...!!!")
(128083 Points)
Replied 10 July 2018
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 10 July 2018
If u r filing ITR 3
You can show car loan under Secured loan and car value to be shown as fixed asset and claim depreciation for the same @ 15% p a
Dipankar Das
(Accountant)
(31 Points)
Replied 10 July 2018
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 10 July 2018
ITR 1 should be filed for salaried person. There is no need to show vehicle loan in ITR 1 form.no deduction will be available for vehicle loan interest or principal repayment.
RAJA P M
("Do the Right Thing...!!!")
(128083 Points)
Replied 10 July 2018
| Originally posted by : Dipankar Das | ||
 |
i am govt salaried person... in which return it will be applicable |  |
You / Salaried Employee can't shown the Car & Car Loan details. Also You can't deduct it's Interest...
saurabh gosar
(2 Points)
Replied 18 April 2019
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