25 February 2013
Normally while calculating salary income, if employee gives interest certificate, we can take a deduction of Rs. 1.5 lacs and then deduct his tax. My question is if employee is letting his house and is ready to show his rent income, then can an employer give interest deduction more than Rs. 1.5 lacs (bcoz if house is rented then there is no limit of Rs. 1.5 lacs). please reply
CAclubindia
