Tds on salary
This query is : Resolved
30 March 2014
I am an accountant of a Pvt, Ltd. Co.
Shall I have to consider repayment of principal and interest of home loan by an employee, while calculating TDS on his salary?
Shall I have to consider repayment of principal and interest of home loan by an employee, while calculating TDS on his salary?
CMA Ramesh Krishnan
(Expert)
30 March 2014
Yes. you have to consider if employee providing the certificate from bank.
Principal amount under section.80C maximum of Rs. 1 lakhs
Interest amount Rs.1.50 lakhs maximum if the house is self occupied & actual interest if the house is let out
Principal amount under section.80C maximum of Rs. 1 lakhs
Interest amount Rs.1.50 lakhs maximum if the house is self occupied & actual interest if the house is let out
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PRATIK AGRAWAL
(Expert)
02 April 2014
No you can not consider the Housing Loan Interest Amount in VIA, rather you have to show it as House property loss. for which the limit is Rs. 1.5 lacs additional to the VIA deduction.
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