03 February 2009
An employee is staying at Hyderabad and claiming HRA benefit. The same employee has taken a housing loan for property situated at bangalore and is getting rental income from the said property. Now the question is whether the employer can take the rental income declared by the employee and also the Interest paid for the purpose of working out the TDS to be deducted from Salary payment.
Interest Paid is about 3.30 Lakhs Rental income is Rs.80000 Net Loss Rs 2.50 Lakhs
CAclubindia
