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Home Loan Provisional Statement for IT Claim

Thirumurugan (Scientist D) (28 Points)

29 November 2010

I am having home loan in Indian Bank. When I approached the bank for provisional statement showing principal and interest component for my IT claim, the bank officer told me that they cannot give such statement since IT dept instructed the bank not to give such statement to the customers. For that, the officer gave only the statement of account. But my office asks the savings proof including the home loan repayments.

Is it true that IT dept has given the instruction to the bank?. In worst case can I give an undertaken to my office for the home loan repayment amount?.

Kindly advise.

regards

Thirumurugan

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5 Replies

Devendra (Chartered Accountant) (4775 Points)
Replied 29 November 2010

No. There is no such instructions given by the IT Department.

But still wait for the views of other members..

Regards

Devendra P Kulkarni

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Thirumurugan (Scientist D) (28 Points)
Replied 30 November 2010

Thank u Mr.Kulkarni for your response. I will wait for the views of others.

regards

Thirumurugan

CA SHANKY KANSAL (Doing Job) (35 Points)
Replied 27 December 2010

Hello Thirumurugan Sir,

In my opinion IT department can't give such instruction as Income Tax Act itself make it complusory to obtain Certificate of Repayment of Housing loan.

As your bank said that IT dept. has given such instruction,than i suggest you make a written request to bank for certificate & keep the xerox of same for future reference & for your office purpose you may submit home loan repayment Schedule given by bank when you acquired the loan as deduction for home loan interest payment is available as when it became payable u/s 24(b) & you may also attach your bank statement copy validating payment of same for deduction u/s 80C.

Rahul Yadav (Accounts & Finance Executive) (24 Points)
Replied 30 December 2010

No such instructions issued by IT department. as it is the statement of customer no bank deny from the same. You can ask from the bank the circular no. issued by IT department and You can take the copy of the circular from the bank. If bank does not give the Circular Copy or Circular No. thn u can file complain to higher authorities.

reply wtever bank says u

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 30 December 2010

Originally posted by : Thirumurugan
	I am having home loan in Indian Bank. When I approached the bank for provisional statement showing principal and interest component for my IT claim, the bank officer told me that they cannot give such statement since IT dept instructed the bank not to give such statement to the customers. For that, the officer gave only the statement of account. But my office asks the savings proof including the home loan repayments. Is it true that IT dept has given the instruction to the bank?. In worst case can I give an undertaken to my office for the home loan repayment amount?. Kindly advise. regards Thirumurugan