How can i show car loan when i filling IT return?
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How to show Car Loan details on income tax return?
Replies (7)
Are you prepare Balance sheet and Business?
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
i am govt salaried person... in which return it will be applicable
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.
| 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...
thank you very much to both of you
IF I AM BUSINESS MAN THAN I GET DEDUCTION FOR VEHICLE LOAN INTEREST OR PRINCIPLE REPAYMENT
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