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Praveen kumar varma (Querist)
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18 March 2011 Dear Sir,
pls advise me

one person working on salary our company he is taken a hone laon rs.10 laces and 2.5laces interest paid and he is get HRA Rs. 3000 per month and he also paid rent Rs. 6000 per month and he also recd.Rent rs. 2500 per month on home and same home he has give laon.

pls advise me how musch deduction on loan on interest Rs.1.5 laces or 2.5 laces

Rajan Kapoor

Rajan Kapoor (Expert)
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18 March 2011 It is pertinent to note that Section 192(2B) which permits Loss under House Property to be set off against Salary Income, for the purpose of determining the TDS on Salaries, does not distinguish between Loss under Self occupied House and Loss under Let out House. The implication is that, if it is Loss under self occupied property the Loss should be restricted to Rs.1,50,000/-and if it is Loss under let out House there is no such restriction. CBDT Circular No: 1/2010 dated 11-01-2010 explains the procedure in this regrd in paragraphs 3.6 and 3.7.

For more detail refer the link:
http://www.simpletaxindia.org/p/income-from-salary-income-calculation.html