Loss on house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2012 My client has two house property. One he claims as self occupied and another is let out for Rs. 2500 pm. His employer allows to claim House property loss on self occupied and but not on the let out, saying that there is no provision as such. But the assesse claims that his declaration is sufficient for the empolyer to consider the loss on letout house property.

Pl clarify the query.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 February 2012 Loss from let out property can be considered while deducting income tax from salary. This is as a corollary ( emphasis given by me in caps ) to the wordings in clause 3.6(ii) of CBDT Circular 5/2011 dated 18/08/2011 which is reproduced here under for reference.
"the DDO can take into account ANY LOSS (negative income) only under the head “income from House Property” and no other head for working out the amount of total tax to be deducted".`

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