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Querry for i.t. return 44ad

ITR 245 views 6 replies

Hello....

I am filling 44AD for AY  2017-18.

Can I claim deduction u/s 80C and Housing loan interest and principle amount in separate.

please guide in this matter. 

Replies (6)

Yes......... the deductions under chapter VIA (like 80C, 80D, 80TTA etc) can be availed seperately from the assessed income under section 44AD.

Yes. You can claim the deduction under sec. 80c even if you are filing income tax returns under sec. 44 AD. It doesn't matter under which section you are computing the Gross total income.

 CAN I CLAIM HOUSING LOAN DEDUCTION??

Yes, interest part u/s.24b under head income from HP........ while principal repayment u/s. 80C, upto eligible limits...

There is no column in the ITR for entering Sec 24b deductionsm, when filing under Section 44 ADA  / 44 AD.

Sir, how can we address that ?

 

Net taxable income under head HP (after deduction u/s. 24b) in ITR 4......


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