Sir,
I am facing a problem regarding Income Tax return i.e. can I claim both deduction under section 24(b) and 80EE (150000 and 100000), if possible then how can I show return in this regard.
My Income is 3100000, interest paid on borrow capital excess Rs. 1,50,000/- and also repaired/construction/interest on capital paid excess Rs. 1,00,000.00 in this regard can I claim same amount as deduction Rs. 2,50,000.00 or not
Computation of Income
Income from business or Profession 4,10,000.00
Income from house property --1,50,000.00
(borrowed Interest)
Balance Income 2,60,000.00
Less: deduction u/s 80-EE 1,00,000.00
Net Taxable income 1,60,000.00
Tax Payable NIL
Further we are awaited your repy in this regard your highly appreciated.
Thanking you,
CAclubindia
