How to show Car Loan details on income tax return?
Dipankar Das (Accountant) (31 Points)
10 July 2018Please help
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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