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    HP Declaration Form 12C

    Uploaded by

    Sanjay Khan Pathan
    This document is a self-declaration form for claiming a tax deduction under Section 24(b) of the Income Tax Act for interest paid on a housing loan. The declarant states that they have completed construction and registered ownership of a self-occupied or rental property on a specific date. They also declare that the loan was used for construction of the property within 5 years of borrowing the capital. The declarant further states their percentage of ownership in the property and that they are claiming a deduction for interest and principal payments up to this percentage.

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    HP Declaration Form 12C

    Uploaded by

    Sanjay Khan Pathan
    111 views1 page
    This document is a self-declaration form for claiming a tax deduction under Section 24(b) of the Income Tax Act for interest paid on a housing loan. The declarant states that they have completed construction and registered ownership of a self-occupied or rental property on a specific date. They also declare that the loan was used for construction of the property within 5 years of borrowing the capital. The declarant further states their percentage of ownership in the property and that they are claiming a deduction for interest and principal payments up to this percentage.

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    This document is a self-declaration form for claiming a tax deduction under Section 24(b) of the Income Tax Act for interest paid on a housing loan. The declarant states that they have completed construction and registered ownership of a self-occupied or rental property on a specific date. They also declare that the loan was used for construction of the property within 5 years of borrowing the capital. The declarant further states their percentage of ownership in the property and that they are claiming a deduction for interest and principal payments up to this percentage.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    111 views1 page

    HP Declaration Form 12C

    Uploaded by

    Sanjay Khan Pathan
    This document is a self-declaration form for claiming a tax deduction under Section 24(b) of the Income Tax Act for interest paid on a housing loan. The declarant states that they have completed construction and registered ownership of a self-occupied or rental property on a specific date. They also declare that the loan was used for construction of the property within 5 years of borrowing the capital. The declarant further states their percentage of ownership in the property and that they are claiming a deduction for interest and principal payments up to this percentage.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 1

    Self-Declaration for the Completion of the Construction and Possession/Registration of the Ownership

    of House property – Self Occupied / Let Out


    (Applicable if Housing loan interest / principal deduction benefit is claimed u/s 24)

    This is to declare that I _______________ (name) with VAM ID ………… have gained the ownership through
    registration / possession of my house property located at the following address, on
    (DD/MM/YYYY) and construction of the house is completed on_____________________. The loan for construction
    of house taken is used for construction of self-occupied/ let-out house property. The acquisition or construction of
    the house is completed within 5years. (3 years, applicable to assessment year 2016-17) from the end of financial
    year in which the capital was borrowed/. The acquisition or construction of the house is completed in more than
    5years (more than 3 years, applicable to assessment year 2016-17) from the end of financial year in which the
    capital was borrowed. (if it is completed within 5years or 3 years as the case may be, then deduction will be 2lakhs,
    otherwise Rs 30000 only, hence strike out whichever is not applicable)

    Further, I hereby declare that I have ____________percentage of ownership in the above stated house and I am
    claiming deduction for interest on housing loan and principal paid by me not exceeding my percentage of the
    holding of ownership in the property.

    Address :

    Loan Lender / bank Name :

    Loan Sanction Date :

    Date : …………… Signature

    Note : Section 24(b) of the Act allows deduction from income from house property on interest on borrowed capital as under:

    (i) The Deduction is allowed only in case of house property which is owned and in the occupation of the employee for his own
    residence. However, if it is not actually occupied by the employee in view of his place of the employment being at other place,
    his residence in that other place should not be in a building belonging to him.
    (ii) Ceiling will be Rs. 30,000 only if capital is borrowed before April 1, 1999 for purchase, construction, reconstruction, repairs or
    renewals of a house property.
    (iii) Ceiling will be Rs. 30,000 If capital is borrowed on or after April 1, 1999 for reconstruction, repairs or renewals of a house
    property.

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