hi forumer,

Need your prompt advise here about the tax deduction for total interest paid on housing loan.

1. My SPA signed on Sept 2009, it is a subsell (so I think is eligible for the tax deduction which must signed between mar 2009 to dec 2010)

2. My first housing loan repayment is on Jan 2010 untill now, so I will need to calculate how much total tax I pard to the housing loan? (From the monthly bank statement, I could get the figure on interest paid on that month...I guess)

3. Or to be more precise, can ask bank to print a year end summary har?? mine is standard Cxxx bank


Tx

Deo,
In my monthly bank statement it tells me the month's total repayment =x, the interest charge = y, and a summary of the principal paid = z for the current month. So x=y+z , and it is correct. The only thing I guess is I need to sum all up. Monthly interest paid is around 860++ and 300++ goes to principal.. In this case I will have approx 860*12 > 10k . If this correct then I will be very happy. Does it make sense?

I made my tax report submission on 28 March.. I am using MBB acc...when I would get the returned extra money i paid??

so meaning i still need to wait for longer time.....dunno MBB they pay by checque?