TDS on salaries: employees may submit other income, tax and house property loss to adjust withholding where permitted. Amendment to section 192 inserts sub section (2B) allowing a salaried assessee to submit prescribed, verified particulars of other income, tax deducted or collected under other provisions of Part B or Part BB, and loss under the head Income from house property, whereupon the payer must take those particulars into account for computing withholding under sub section (1); however, withholding on salary cannot be reduced except when the house property loss and taxes deducted or collected under the other specified provisions have been taken into account.
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TDS on salaries: employees may submit other income, tax and house property loss to adjust withholding where permitted.
Amendment to section 192 inserts sub section (2B) allowing a salaried assessee to submit prescribed, verified particulars of other income, tax deducted or collected under other provisions of Part B or Part BB, and loss under the head Income from house property, whereupon the payer must take those particulars into account for computing withholding under sub section (1); however, withholding on salary cannot be reduced except when the house property loss and taxes deducted or collected under the other specified provisions have been taken into account.
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