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ITR2 home loan interest claim

25 July 2022

Hi,

while claiming loss on property due to home loan interest(under itr2) i selected schedule on house property and entering house details and interest payable under borrowed capital. I was expecting total head salary to come down but now the interest portion is going to carry forward instead of current Assessment year.

am i filling the right schedule to claim home load interest benefit for current assessment year or is it glitch in website ?

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2 Replies

CA. Umesh kumar (ca.umesh11@gmail.com) (1465 Points)
Replied 25 July 2022

No glitches, site runs smoothly

CA PARTH SHAH (In Practice) (1951 Points)
Replied 26 November 2022

Hi,

Check the amount of Interest on loan you are claiming under section 24b. Interest upto Rs 2 lakhs is allowed as deduction during the current year. Any interest above Rs 2,00,000 shall be carried forward to next financial year.

Also check whether you are entering interest amount as preconstruction Interest or not. Interest for the preconstruction amount is as deduction till the possession of the property is received.