Adjustment of tds on other income with tds on salary

This query is : Resolved

Naresh Kumar (Querist)
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30 March 2012 I am an employee of XYZ company. Apart from Salary, I am receiving Rental Income (not HRA) from my employer on self lease basis, after deduction of TDS u/s 194I.

My query is, (i) Whether the TDS on rental income can be adjusted against the TDS on Salary payments by the employer, when the Income from house property is positive.
(ii) Whether the TDS on rental income can be adjusted against the TDS on Salary payments by the employer, when the Income from house property is negative due to Interest payment on home loan from bank.

Please provide reference to circular / notification / case laws if any.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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30 March 2012 A salaried employee can give details of other incomes earned by him and TDS deducted on such income to his employer.

The employer shall then compute the total income considering the declarations and calculate the tax laibility accordingly.

Therefore, the employer can consider the rental income and TDS deducted on such income while computing TDS on salaries.

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