I am working with a private company and earlier while declaring investment details, based upon provisional certificate I have declared that I will be paying 198000 as interest towards home loan, but during the year I have made some advance prepayment and was able to pay only 148000 towards interest. Now the query is, if I have to pay income tax towards remaining amount that is 50000/- how should I pay the tax. Please guide me
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Query on income tax filing
Replies (2)
It depends on the taxable income which u are Receiving !
Dear,
Assuming you are already deposited advance tax based on your estimated income after taking deduction of Rs. 198000. Now your actual deduction is only Rs. 148000. Hence for the difference of Rs. 50,000, you have to pay tax. Whatever be the amount, you can pay the tax as self assessment tax while filing return of income .
Thank you.
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