For the time of tax calucation of employee by the employer - shall the interst on housing loan repayment which is occupied by the employess take in to consideration or not (I.e the Income from House property is loss
5 Replies
ashish gupta
( student)
(1922 Points)
Replied 18 November 2011
Yes it should be taken into consideration by the employer if employee provides the relevant details.
CA Devender Chauhan
(Group Financial Accountant)
(1526 Points)
Replied 18 November 2011
yes.....
Intt. from house property casn be taken into consideration
Chintan
(Accounts and Finance Executive CS Executive Pursuing)
(98 Points)
Replied 18 November 2011
It is considered
CA Naresh Sehra
(Chief Financial officer)
(50 Points)
Replied 21 November 2011
| Originally posted by : RAMU G | ||
 |
For the time of tax calucation of employee by the employer - shall the interst on housing loan repayment which is occupied by the employess take in to consideration or not (I.e the Income from House property is loss |
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Yes Deduction is available for interest paid on housing loan up to Rs 1.50 lacs if possession of property on which loan is taken is given to employee and he either use it for own residence or can keep vacant or give on rent ( Important point to avail deduction is that employee should get the possession of property on whcih housing loan is taken )
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