Set off of loss on house property against salary

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....et off of loss on house property against salary<br> Query (Issue) Started By: - BALA Dated:- 23-10-2007 Last Reply Date:- 1-11-2007 Income Tax<br>Got 2 Replies<br>Income Tax<br>I am an employee . Have....

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.... taken Hsg. loan and given the house on rent . If I declare the net loss on house property ( due to interest outgo) to my employer , whether he can offset the loss on house property against the salary....

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.... income ,while deduting TDS . Is there any bar in the IT Act / Rules / Notifications / Circulars that the above set off is applicable only when the employee resides in his own property . Your views pl....

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....ease . with regards, Reply By Ramanujam V: The Reply: Net loss on house property is eligible for deduction against salary while deducting TDS. Such set off is available even when the property is let ....

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....out, but in such case, the rent component should be taken as income while computing the house property income. Reply By surabhi agarwal: The Reply: loss under the head house property can not be set of....

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....f against salary<br> Discussion Forum - Knowledge Sharing ....