HOUSING LOAN INT

Tax queries 493 views 2 replies

DEAR SIR

AN ASSESSEE REPAID HOUSING LOAN TOTAL REPAID 150000 AND INTEREST DEBITED 85000 IN THIS CASE ASSESSEE CLAIM IN IT RETURN 

 

1.) INTEREST - 85000 - 24(B)

2.) PRINCIPAL - 65000(150000-85000)-VIA

OR

1.) INTEREST - 85000

2.) PRINCIPAL - 150000

IF ASSESEE REPEMNET IS BELOW THE INTEREST DEBITED TO A/C I.E.

INTEREST DEBITED - 50000 BUT ASSESS PAID ONLY 15000 WHOLE OF THE YEAR IN THIS CASE

1.) INTEREST - 50000-24(B)

2.) PRINCIPAL - 15000 - VIA

OR

INTEREST - 50000-24(B)

PRINCIPAL - NIL

PLEASE CLARIFY THE ABOVE TWO CASES

THANKING YOU

Replies (2)

 

Assess can claim 85000 as interest and 65000 as principal

I think Pankaj is right


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