Home loan and leave encashment

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  1. RAFI AHMED.

    RAFI AHMED. New Member

    I retired from service of a public sector organisation, retired on 31/08/2015.
    1. In f. 16 the employer has included the leave encashment of Rs. 3.16 lac as income and calculated tax.
    Whether the amount is exempted from tax and whether I need to get f16 changed from the employer.
    2. I availed housing loan of Rs. 56.00 lac in August 2015 for residential flat for self occupation. The interest on the loan is Rs. 2.41 lac but I have paid instalment amounting to Rs. 1.61lac only. Whether I get tax rebate on Rs. 2.00 lac or Rs. 1.61 lac only .
    3. The pension for the month of March 2016 was credited to my bank account on 02/04/2016 but in f. 16 it is shown as income for the financial year 2015-16. Can it be accounted for the fy 2016-17. If so whether the same need to be rectified in the f . 16.
     
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