20 July 2010
whether house property loss should be deducted in disclosing under column 23 TDS form salary income (ITR-1) or income from salary only should be disclosed.
For Ex:
Income form salary 650000 House property loss 150000
20 July 2010
Column 23 of ITR-1 for details of TDS from Salary, in this column show only ax deducted by the employer on salary and it should be tallied with the Form No 16 issued ny the employer.
Loss from House property should be shown under column 2 nad Gross Total Income will be Salary less loss from House property.
My doubt is regarding the Amount to be shown in TDs column Under the head Income form Salaries whether Rs 5,00,000 should be considered after considering House property loss which as been included in Form 16 or Rs 6,50,000 which is income form salaries.