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Help regarding 24q prepation for fy 2017-18

bhopen (MBA) (104 Points)

22 May 2018

DEAR SIR, I AM PREPARING TDS FUV. FILE IN RPU FOR QUATER 4 SALARY. THE FOLLOWING DETAILS ARE THE SALARY STRUCTURE OF MY BOSS.

GROSS SALARY- RS.11,77,200/-

LIC+EPF=1,50,000/-

HOUSING LOAN INTEREST PAID TO BANK FOR F.Y. 2017-18=RS. 3,13,379/-

NOW MY QUESTION IS 1) HOW MUCH HOUSING LOAN INTEREST CAN BE CLAIMED?

2) WHERE TO MENTION THE HOUSING LOAN INTEREST AMOUNT IN ANNEXURE II OF 24Q?

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6 Replies

rama krishnan (12239 Points)
Replied 22 May 2018

if it's self occupied, 200000 can be claimed and the rest can be carried forward
if it's let out, entire interest amount can be claimed as deduction

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raja sekar (1435 Points)
Replied 22 May 2018

Interest has to be mentioned under income from house property and the principal amount should be entered under 80c. Further if the loan is sanctioned during FY 2016-17 excess 50000 of interest can be shown under 80ee

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Miss Mansi Bhojani (Practicing Chartered Accountant) (1736 Points)
Replied 22 May 2018

Yes rightly stated above... Interest depends on property is self occupied or let out and will be shown under income from house property.

bhopen (MBA) (104 Points)
Replied 22 May 2018

THANKS ALL. I AM PREPARING 24Q RPU.. WHERE TO MENTION THIS AMOUNT IN ANNEXURE II? I AM CONFUSED..WHETHER THE AMOUNT SHOULD BE MENTIONED IN ANNEXURE II OR NOT?