DILEEP KUMAR.A
(Executive Finance)
(475 Points)
Replied 29 June 2016
Dear Sowmya,
Since Employer have the obligation to deduct TDS considering all other heads of Income of an employee, we must also possess the underlying documents like Interest on Home loan paid by employee, rental receipts and every other necessary proofs to computation of TDS liability.
Any other view will be welcome!
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 29 June 2016
I agree with Dileep. In this case, I assume you are referring to interest on housing loan for claiming deduction u/s 24. The employee is required to provide interest certificate from the lender in respect of loan availed. Based on this, deduction can be availed.
CAclubindia
