Rental income and interest on housing loan

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Meenu (Querist)
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30 July 2010 Hi,

If rental income is less than interest on housing loan, is their any way - NIL DEDUCTION of TDS on rental income can be applied for?

Please reply ASAP...

Thanks

K V Subba Rao

K V Subba Rao (Expert)
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30 July 2010 I am afraid the Deductor (Tenant) would not be able to set aside his obligation for affecting TDS. The Landlord may apply to his assessing officer and obtain Certificate for not affecting TDS

VINOD ARORA

VINOD ARORA (Expert)
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03 August 2010 In fact it does not matter, whether your rental income is less or more than interest amount of housing loan. Basically, to avoid TDS deduction, in view of non-taxable income, you have to approach the assessing officer to issue zero/lower rate tds determination order u/s 195/197, who would like to see whether your total estimated income (from all sources for that financial year) is in fact not taxable. ACcordingg to merits he may issue the requiste certtificate.

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