Mitali Agarwal (Company Secretary) (638 Points)
29 September 2010Dear Friends,
I am facing prob. in filing ITR-4. I have filled the details of House Property Loss (i.e. interest on loan taken) but the loss figure in not being carried to Computation sheet from the HP Schedule and thus resulting in wrong cal. of tax.
Pls can anyone tell me the mistake being done by me?
Yogesh
(CA)
(45 Points)
Replied 29 September 2010
Hi Mitali
Kindly fill the relevant columns like address, City, Pincode, State... If the Property is let out then name of the tenant is must.. Fill these details.. Loss will be surely carried to computation
vishal batra
(Law Student)
(28 Points)
Replied 29 September 2010
House Property Income Shown loss will Show Nil.Thats what the return says.
Now The treatment Of Interest U/s 24 (b) i:e Interest On Hosing Loan Max. to 150000
u will Show it In Schedule HP As interest paid .and it will show as in minus figue.
After this In computation of total Income
you will show nil in house property but the interest figure will be shown in the 7 point in the computation of total income itself which says.
Losses of current year to be set off against 6 (total of 2vii,3vii and 4vii of Schedule CYLA
Then after this your amount of interest will be deducted from yout total income in point 6.
after that the corresponding Schedule CYLA has to be filled.
this information is according to my knowledge & belief.
Mitali Agarwal
(Company Secretary)
(638 Points)
Replied 05 October 2010
Thanks a lot Yogesh Ji and Vishal Ji.
CAclubindia
