Provisional Certificate of housing loan

Tax queries 9474 views 5 replies

hari2009

Executive

224 Points Posted on 03 March 2009

hi,

in our company most of employees availed housing loan to get benefit of income tax

i asked them to get the provisional certificate, most of them brought the certificates

but i have doubt in provisional ceritificate which was produce by the employee. in that copy

two names are mentioned his name and his wife.

employee is saying that my wife is not claiming any benefit

what should i do regarding this

Please help me

Replies (5)

CA.Tarun Maheshwari

CA DISA

7150 Points Posted on 03 March 2009

Take a declaration from them in this regard.

CA CS VINAYAK PATIL

CHARTERED ACCOUNTANT

921 Points Posted on 03 March 2009

Originally posted by :harinath
"	hi, in our company most of employees availed housing loan to get benefit of income tax i asked them to get the provisional certificate, most of them brought the certificates but i have doubt in provisional ceritificate which was produce by the employee. in that copy two names are mentioned his name and his wife. employee is saying that my wife is not claiming any benefit what should i do regarding this Please help me	"

You have not claim interest on Housing Loan because it is not taken from any Financial Institution or Bank. The Interest amount if less than Bank Interest Rate then it is chargeable as perqusites.

chetan

Student

322 Points Posted on 04 March 2009

You should take decleration from the employee in form 12c

Sorabh Gupta

Manager ( Taxation )

877 Points Posted on 04 March 2009

Mr Hari nath

As firsty , prepare a declaration form of investment then same give to all employees for their investment. About house loan take a certificate from employee which is prepared by Bank in the name of employee in which they mention all the details like Principal amount & interest for the finacial year . As u mention that in provisional certficate two names are mentioned i.e. his & his wife . There is no issue regarding it as both can claim the House loan & interest.

navin

Startup

34 Points Posted on 29 June 2016

Take the self delclaration from his wife mainly and also from your employee stating that "my wife is not claiming any benefit" in plain paper/Rs.10 NJ stamp paper.