I am a salaried person with a Home Loan. In order to file return should I use ITR-1 or ITR-2? Please also let me know under which section in ITR-1/ITR-2 should mention Interest of Home Loan.
Thank you
17 Replies
Ankit
(CA, CS)
(3064 Points)
Replied 24 July 2013
Mayuri,
you have to fill up ITR 1...if you have only one house. however, if you have more than one Houses in your name, then you have to file ITR 2.
the interest amount will come as a negative figure in the coloumn Income from House Property. it is the coloumn after income from salary
Ankit
(CA, CS)
(3064 Points)
Replied 24 July 2013
Mayuri,
also you will get a deduction for the principal componenet that you have repaid. this deduction will be allowed under section 80C upto a maximum of Rs. 1,00,000
mayuri
(n/a)
(63 Points)
Replied 24 July 2013
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Thank you Ankit. I have only one house in my name, so the Interest part of the home loan will goes to “Income from one House Property” column. Correct?Originally posted by : Ankit |
||
 |
Mayuri, you have to fill up ITR 1...if you have only one house. however, if you have more than one Houses in your name, then you have to file ITR 2. the interest amount will come as a negative figure in the coloumn Income from House Property. it is the coloumn after income from salary |
 |
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 24 July 2013
In case of loss from house property u should fie itr2.
refer this link:
/forum/details.asp?mod_id=256729
Mihir
(Wealth Manager)
(5293 Points)
Replied 24 July 2013
Details of the property and loan will have to be filled in the ITR - whether it is singly owned or co-owned.
Ankit
(CA, CS)
(3064 Points)
Replied 24 July 2013
Mayuri,
ITR 1 cannot be filled up only if you are having a loss brought froward from the previous year. This is not so the situation in your case
According to me, you can go ahead and file ITR 1. anb enter the interest amount as a negative figure in the Income From HP Coloumn
mayuri
(n/a)
(63 Points)
Replied 24 July 2013
Thanks Mihir,
I have no loss from the house and I just wanted to claim examption on interest part of house loan so which column of ITR-1 will have details of property and loan?
Ankit
(CA, CS)
(3064 Points)
Replied 24 July 2013
in the income from HP...enter the interest figure as a negative amount
Ankit
(CA, CS)
(3064 Points)
Replied 24 July 2013
you are welcome..if you have any further queries..you can ask
sanjay
(accounts manager)
(21 Points)
Replied 17 December 2013
i cant understand plz tell me aboubt which columan i claim home loan interest in itr2
saurabh khanna
(Article )
(22 Points)
Replied 05 April 2014
I have income 0nly from other sources....including tution income and intrest income form bank.....no salary income.....which itr i will have to file...itr 1 or itr 2
deepak adhikari
(accountant)
(32 Points)
Replied 31 July 2015
plz ans give me , i m salaried person bt mera housing loan chal rha h nd uska housing loan ka interst itr 1 m fill kru ya nhi plz reply me
deepak adhikari
(accountant)
(32 Points)
Replied 31 July 2015
plz give me suggestion, i m salaried person , bt mera housing loan chal rha h th m itr 1 fill kru? agar kru th loan ka inerst amount fill kru?
deepak adhikari
(accountant)
(32 Points)
Replied 31 July 2015
| Originally posted by : deepak adhikari | ||
 |
plz ans give me , i m salaried person bt mera housing loan chal rha h nd uska housing loan ka interst itr 1 m fill kru ya nhi plz reply me |  |
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