tds against home loan

Hi,

Answer 

1. You can adjust TDS with the tax on your salary.

2. Deduction for the loss from home loan deducted from income of rental 20K

3.Yes, employer entitled to give you the benefit of TDS by adjusting it to tax on salary and rest if any shall claim from IT Department.

Regards

Ashish Sharma

U Can claim loss on your HP and that can b adjustable against your Taxable salary, the TDS deducted from rent can b claimed from Income tax department only.

for this purpose income is 20k, gross amount, employer will give you form 16 for Income and Tds on salaries, Form 16A for Rent paid and TDS on rent

Originally posted by : SRINIVASA MURTHY
	U Can claim loss on your HP and that can b adjustable against your Taxable salary, the TDS deducted from rent can b claimed from Income tax department only. for this purpose income is 20k, gross amount, employer will give you form 16 for Income and Tds on salaries, Form 16A for Rent paid and TDS on rent

Dear Sir, 

I know when employee give his estimates of saving and other income he can also claim loss from house property and the same is adjustable with the tax on salary

do i wrong ? 

Dear Ashish ur correct, the employer may consider the other incomes of the employee, in case of loss it can be only on House property.

the loss on house property can be adjustable from taxable salary, where as in the case of TDS on Rent, is the tenent is under statutory obligation to deduct the tax on rent payable to the owner,

in the both above cited cases parties r same, the obligation to discharge liablity of TDS on rent will b on employer, he cant adjust the TDS on rent with any other savings of the employee.

But he can adjust the loss arose to the employee on the HP with the taxable salary, after adjustment of loss on HP if the salary still in the tax brakets, the employer should deduct the TDS on such adjusted amount