Friday, September 26, 2014

Proofs documents required for claiming housing loan interest exemption fy 2014-15

Proofs documents required for claiming housing loan interest exemption fy 2014-15

Questions Asked:

  1. Proofs or documents required for deduction of home loan interest
  2. Procedure: How to Claim Tax Benefits on Home Loans in same city
  3. How to claim income tax deduction on interest on home loan - Document required

Below are list of proofs or documents which are required to submitted for claiming Tax exemption on house Loan Interest Under Section 24 income tax act 1961

  • Provisional certificate pertaining to current financial year  2014-15 (Apr ’2014 – Mar ’2015) with breakup of interest and principle from the Housing Finance Company / Bank.  The Possession letter / Completion certificate from the Builder or Municipal Authority is required as part of mandatory document along with the provisional loan certificate.
  • In case of Joint loan, declaration specifying the % of benefit claimed by the individual
  • Housing loan interest deduction through payroll will be considered. No proof required
  • Possession Letter from Builder  or through self declaration from the employee is mandatory as per IT circular no 8/2012, dated 5th October 2012
documents to be submitted for claiming housing loan interest exemption
documents to be submitted for claiming housing loan interest exemption

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