What will be the result if Tds deducted is not accurate or according to the law? e.g. If HRA exemption u/s 10 (13A)is given to an employee for a rented house in other state while he is living in his own house at the place of present posting. He has a loan for that house & also availing deduction u/s 24 (b).
The Emploee is posted at X city. He has his own house in that city. But he wants exemption u/s 10(13A) for a rented house in city Y because his family lives there. But as per sec. 10(13A) he can not claim exemption if he is not living in that house. Am I right.