10 December 2018
Suppose an employee leaves job in December and has produced provisional certificate of housing loan for whole financial year, whether the employer has to consider proportionate amount of interest and principal loan outstanding while calculating TDS on salaries. Kindly advise.
11 December 2018
In my opinion interest and principal amount paid of housing loan should not calculate on proportion basis because loss of house will adjust from salary income whether employee has work for whole financial year or single month during the financial year, Section 80C deduction apply on GTI therefore housing loan principal amount paid should also eligible for deduction.
CAclubindia
