Tax calculation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2013 Our one employee take a house building loan, But as per our office record his permanent address is XXX and self occupied house building loan address is yyyy. In that case we can (employer) consider the loan EMI interest amount and principle amount for the year 2013-2014. He submit only loan approval and provisional certificate from bank. Please advise his permanent address changes required in our office record along with proper documents.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 June 2013 Loan interest certificate should have the property address where they given loan, check that,if not there ask to get the certificate with property address and you can verify the same

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2013 Mr. Ramesh
Thanks for your cooperation.
Self occupied house address and our company data base employee address should be same or not ?

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 June 2013 Not necessary the same. where the house property owned by employee, that is his/her option to declare whether the house property is self occupied or let out.

Employer has to ensure to allow only one self occupied property deduction and also ensure not claim both HRA & house property deduction

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2013 Thanks

Please let you know any prescribed format for self occupied declaration. If have then please send to me

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 June 2013 There is no specific format. simple declaration along with Investment declaration form is enough