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Home Loan Interest Deduction Section In Itr2
Home Loan Interest Deduction Section In Itr2 -
If the loan is taken jointly each loan holder can claim a deduction for home loan interest up to Rs 2 lakh each and principal repayment under Section 80C up to Rs 1 5 lakh each in their tax returns To claim this deduction they should also
The pre filling and filing of ITR 2 service is available to registered users on the e Filing portal This service enables individual taxpayers and HUFs to file ITR 2 through the e Filing portal This user manual covers the process for filing ITR 2 through online mode
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Here Mr X can claim actual home loan interest paid of Rs 2 5 lakh as a deduction for the let out property Mr X can also claim a deduction of up to Rs 1 5 lakh for principal repayment under section 80C which will be the aggregate of all home loan repayments
Self occupied property Provide details of property and interest paid on housing loan if any Let out property Provide details of the property such as an address rent received during the year municipal taxes paid and interest paid on housing loan if any
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Where to Find more Home Loan Interest Deduction Section In Itr2
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Check the amount of Interest on loan you are claiming under section 24b Interest upto Rs 2 lakhs is allowed as deduction during the current year Any interest above Rs 2 00 000 shall be carried forward to next financial year
Under Section 24 of the Income Tax Act a taxable individual can claim deduction on payment of interest for a home loan The property must be self occupied and maximum deduction allowed is Rs 2 lakhs
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https://www.incometax.gov.in › iec › foportal › help
The pre filling and filing of ITR 2 service is available to registered users on the e Filing portal This service enables individual taxpayers and HUFs to file ITR 2 through the e Filing portal This user manual covers the process for filing ITR 2 through online mode
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