Hi,
Whether employer can allow deduction on Loss on house property(Let out) while computing tax on salaried income?
Regards,
LIngappa
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Let out property deduction u/s24
Replies (3)
Yes Employer can adjust loss from house property from employees salary income provided a statement of loss from house property has been furnished by the employee (as per rule 26B) but loss from any other source can not be adjusted.
Thank you so much.
Regards,
Lingappa
Hello,
Agree with saurabh
As section 192(2B)does not make any distinction between Self Occupied House and Let out house, if the property is Self occupied the Loss should be restricted to Rs.2,00,000/- and in case of let out House there is no restriction.There is no restriction that the Loss should be restricted to one House only.
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