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Bifurcate interest and principal amount of home loan

ajaz ul haque (partner) (117 Points)

07 August 2018

Dear Members!

as per attached file

how to bifurcate interest and principal amount.

and plz guide me that where put the both amount in ITR 1.

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Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 07 August 2018

36,417 Interest amount

89,352 Principal amount

Interest will come in B2 (v)

Principal amount in Part C 80C

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ajaz ul haque (partner) (117 Points)
Replied 07 August 2018

THANKS

BUT INTREST CERTIFICATE IS SHOWN ( TOTAL REPAYMENT RECD PRINCIPAL+ INTREST =209795)

As per Answer is Intrest Amount is 36417.00

Principale Amount is 89352.00

It's mean Repayment is 125769.00 -209795=84026?

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 07 August 2018

Total repayment and interest means till date i.e previous years & current year figures are added in totality

ajaz ul haque (partner) (117 Points)
Replied 07 August 2018

Originally posted by : Ruchika Somani
	Total repayment and interest means till date i.e previous years & current year figures are added in totality

Thanks a lot !!!!!

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ajaz ul haque (partner) (117 Points)
Replied 07 August 2018

Dear Mam !

What is the meaning of u/s 139(9)

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Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 08 August 2018

Where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of fifteen days from the date of such intimation or within such further period which, on an application made in this behalf, the Assessing Officer may, in his discretion, allow; and if the defect is not rectified within the said period of fifteen days or, as the case may be, the further period so allowed, then, notwithstanding anything contained in any other provision of this Act, the return shall be treated as an invalid return and the provisions of this Act shall apply as if the assessee had failed to furnish the return :

Provided that where the assessee rectifies the defect after the expiry of the said period of fifteen days or the further period allowed, but before the assessment is made, the Assessing Officer may condone the delay and treat the return as a valid return.

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