My query is regarding TDS on Salary & Loss from House Property.
An employee is working in Delhi & is paying Rent & is claiming HRA tax rebate. He also has taken a Housing Loan and the House is in Mumbai. The house in Mumbai has been let out by him and he is getting rental income from the same.
My queries are as follows:
- Can his interest on housing loan be allowed as loss from house property for the purpose of TDS on Salary Income? If yes, what is the maximum limit?
- Can his repayment of housing loan be allowed as deduction u/s 80C for the purpose of TDS on Salary Income?
- Should his income from house property be considered by the employer while allowing the benefit of loss from house property due to interest on Housing Loan for TDS on Salary Income?
Kindly let me know the correct treatments & reference of any CBDT circulars (if any) for my better understanding.