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Home loan

sangita (accountant) (24 Points)

28 July 2014

Hi,

I have a income from legal & professional fess, I am filing ITR 4. In ITR 4 deduction of hosuing loan interest whre to show

thanks

sangita

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7 Replies

CA J.Alamelu lakshmi (Chartered Accountant) (857 Points)
Replied 28 July 2014

Under the head Income from House Property.

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Mihir (Wealth Manager) (5293 Points)
Replied 28 July 2014

Yes, in income from house property.

(Guest)

income from house property

NILA REJESH P (Chartered Accountant) (815 Points)
Replied 28 July 2014

Under the head Income from House Property.

Hitesh Khanna (Accounting & Finance Taxation Company Law Audit ) (839 Points)
Replied 28 July 2014

Under the Schedule Income from House Property Fill in the details of the House property for which Interest is being claimed as a deduction.

PAN details of Tenant where the property is let out is optional.

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Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15607 Points)
Replied 29 July 2014

Any payment made for purchase or construction of a residential house property.. which is chargeable to tax under the head “Income from House Property” towards any installment... or part payment due to any Bank, Financial Institution, Company or Co-Operative Society towards the cost of the house property allotted ... is allowed as deduction U/s 80 C of the Income Tax Act, 1961...!

Harshil (student) (65 Points)
Replied 29 July 2014

Dear sangita, U pay total amount of loan any way means installment principal paid + interest .. u pay interest on housing loan is allowed under section 24(B)..n principal amount is allowed u/s 80C.............