10 December 2015
POSSESSION OF HOUSE IS TAKEN IN NOV 2015.
HOWEVER, DEDUCTION WAS TAKEN TOWARDS INTEREST ON BORROWED CAPITAL AND PRINCIPAL AMOUNT TOWARDS REPAYMENT OF LOAN IN A Y 14-15 & 15-16 BY THE EMPLOYER IN FORM 16. THE IT RETURNS WERE EFILED ACCORDINGLY.
IS THE TREATMENT CORRECT AND IF NOT CAN REVISED IT RETURNS CAN BE FILED ?
11 December 2015
well once you revise the returns, interest will be available in five equal installments from AY 2016-17 as the possession has been taken in November 2015
CAclubindia
