Employer not considering loss from house property while TDS

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This query is : Resolved

Sonaly (Querist)

12 March 2009 I am incurring a loss from house property on account of interest paid on home loan as I am not self occupying the bought house for which I have taken a home loan.

My employer is refusing to set off this loss against my salary income while deducting income tax at source.

Please respond what can be done in this scenario.

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)

12 March 2009 hi

U NEED TO GIVE DETAILS OF UR INCOME IN FORM NO.12C TO UR EMPLOYER INCL. LOSS FROM HOUSE PROPERTY, IF ANY,. AND UR EMPLOYER IS SUPPOSED TO CONSIDER THE LOSS ALSO WHILE COMPUTING THE TDS ON SALARY

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)

12 March 2009 Mr. Hussian is correct. Your employer should consider the other details of income you will provide him and calculate the tax on salary accordingly.

Sonaly

Sonaly (Querist)

13 March 2009 I have already submitted Form 12C to the company.

But they say as a company policy they cannot consider this while deducting TDS on salary, Can a company have policies other than what is stated in Income tax law ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

13 March 2009
You may file Form 13 before your jurisdictional ITO and the ITO will issue a certificate showing the rate at which tax is to be deducted by the employer.

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