Tds on salary

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Alokenath (Querist)
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30 March 2014 I am an accountant of a Pvt, Ltd. Co.
Shall I have to consider repayment of principal and interest of home loan by an employee, while calculating TDS on his salary?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 March 2014 Yes. you have to consider if employee providing the certificate from bank.

Principal amount under section.80C maximum of Rs. 1 lakhs

Interest amount Rs.1.50 lakhs maximum if the house is self occupied & actual interest if the house is let out

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Alokenath

Alokenath (Querist)
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30 March 2014 Can I consider the interest amount in Chapter VIA

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PRATIK AGRAWAL

PRATIK AGRAWAL (Expert)
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02 April 2014 No you can not consider the Housing Loan Interest Amount in VIA, rather you have to show it as House property loss. for which the limit is Rs. 1.5 lacs additional to the VIA deduction.