Setoff of house loan interest against salary income

Is it possible to set off interest on house loan against salary income

Replies (5)

Yes it is possible if the property is self occupied and owned by you.

You may claim interest on house loan u/s 24b by showing a negative figure of interest on house loan in your ITR in the head 'income from house property'

If you submit provisional certificate of your home loan account to your employer, your employer will adjust your TDS deductions accordingly. Therefore, you won’t have to wait until the year end to find out your tax liability and adjust your tax.

Provisional certificate should contain breakup of the principal and interest paid in the current financial year, otherwise your employer may reject your claim.

Land should be in the name of assessee. Generally loan is taken in the name of assessee but owner of land is others

ITR 2 of 2013-14 was filed only with Salary income (on its last day) 31.03.2016.

Interest on housing loan was not deducted in computation of total income/Tax payable,however in houseproperty sheet,interest is shown as negative.

DO I need to adjust it somewhere else in ITR.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details