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    Incomeor Losson Houseproperty

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    barickbikash296
    This document contains a declaration form for employees to claim income or loss from a house property. It requests information such as whether the property is solely or jointly owned, loan details, income tax exemptions claimed, and address of the property. For a self-occupied property, the gross annual value is nil and maximum deduction of Rs. 200,000 is allowed for interest on borrowed capital. The employee needs to provide computation details of income/loss from the property and declare that the submitted details are true and correct.

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    Incomeor Losson Houseproperty

    Uploaded by

    barickbikash296
    28 views1 page
    This document contains a declaration form for employees to claim income or loss from a house property. It requests information such as whether the property is solely or jointly owned, loan details, income tax exemptions claimed, and address of the property. For a self-occupied property, the gross annual value is nil and maximum deduction of Rs. 200,000 is allowed for interest on borrowed capital. The employee needs to provide computation details of income/loss from the property and declare that the submitted details are true and correct.

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    IncomeorLossonHouseproperty (2)

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    This document contains a declaration form for employees to claim income or loss from a house property. It requests information such as whether the property is solely or jointly owned, loan details, income tax exemptions claimed, and address of the property. For a self-occupied property, the gross annual value is nil and maximum deduction of Rs. 200,000 is allowed for interest on borrowed capital. The employee needs to provide computation details of income/loss from the property and declare that the submitted details are true and correct.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    28 views1 page

    Incomeor Losson Houseproperty

    Uploaded by

    barickbikash296
    This document contains a declaration form for employees to claim income or loss from a house property. It requests information such as whether the property is solely or jointly owned, loan details, income tax exemptions claimed, and address of the property. For a self-occupied property, the gross annual value is nil and maximum deduction of Rs. 200,000 is allowed for interest on borrowed capital. The employee needs to provide computation details of income/loss from the property and declare that the submitted details are true and correct.

    Copyright:

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

    DECLARATION TO CLAIM INCOME/LOSS) FROM HOUSE PROPERTY

    IBM Confidential

    Employee Number
    Employee Name
    PAN

    Declaration regarding House Property :


    Whether the Property is Solely owned or Jointly Owned
    if the loan is taken along with a Co-borrower
    Name of Joint Owner (if applicable)
    Joint Owner relationship with employee
    Income Tax exemption claimed to the extent of (Rs. / %)
    Housing Loan - Principal paid/payable during FY 2023-24
    Housing Loan - Interest paid/payable during FY 2023-24

    Is the House property Self Occupied/Let Out

    [Employees having both Self Occupied & Let Out properties are hereby requested to submit separate declarations respectively]

    Address of the Property

    Name of the Lender (Banks/Financial Institutions/Others)

    Address of the Lender

    Permanent Account Number (PAN) of the Lender

    Date of borrowing loan

    Date of Possession / Date of completion of construction

    · IN CASE HOUSE PROPERTY IS SELF OCCUPIED :


    1. The Gross Annual Value is ‘NIL’.
    2. No deduction allowed towards Property Tax/Muncipal Tax paid.
    3. No deduction except interest on borrowed capital is available.
    4. Maximum deduction of Rs. 200,000/- allowed towards interest on borrowed capital for self occupied property

    COMPUTATION
    Amount in Rs.
    1. GROSS ANNUAL VALUE :
    In case of Let out, Actual rent received during the FY 2023-24.

    2. Less : Property Tax / Municipal Tax Paid for the LET OUT property only
    3. Annual Value u/s 24 (a) = ( 1 - 2) 0.00
    4. Less: 30% of the Annual Value u/s 24(a) 0.00
    5. Less: Interest on borrowed capital
    6. TOTAL DEDUCTIONS( 4 + 5 ) 0.00

    7. INCOME / LOSS FROM HOUSE PROPERTY ( 3 – 6 ) * 0.00

    DECLARATION
    I acknowledge and understand that, in light of the overall Remote Working, only for Financial Year 2023-24,IBM has permitted me to temporarily
    submit a soft copy declaration, stating that the details submitted by me are true and correct. I undertake to submit the original/ signed hard copy
    documents, duly signed by me and/or my landlord, on demand from IBM. Notwithstanding the above, I agree and acknowledge that IBM may
    reject my claims if it is not satisfied with the documents, or may require further documents from me, including original/ signed hard copy
    documents. . I further acknowledge that IBM may require me to submit such documents even after I separate from IBM. If IBM is not satisfied
    with my documents, IBM may, at its option, reject my claims for tax benefits, recover taxes due from me, or notify the tax authorities. IBM's
    discretion in this respect shall be final.

    For claiming income tax benefits and/ or exemptions under House Rent Allowance (HRA), Leave Travel Allowance ( LTA), Medical allowance, Housing
    Loan, and any other permitted category, I shall only submit valid proofs and information, in accordance with the requirements of the Income Tax Act and
    other laws and regulations. If any incorrect, false or forged receipts/ declaration/ information is detected at any time, including during IBM regular audits, it
    would warrant stern disciplinary action including separation from services, as per Business Conduct Guidelines. In addition, any tax benefits may be
    withdrawn/ reversed. I am also liable to directly handle any investigation or action taken by the Income Tax Department. By signing the declaration/
    disclaimer, I acknowledge and agree to the above.

    Date : (Employee Signature)

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