Can loss be considered while calculating TDS?

Forums House Property Taxation Can loss be considered while calculating TDS?

Can loss be considered while calculating TDS?

My income from let out house property is negative. Can I ask my employer to consider this loss against my salary income while computing the TDS on my salary?

Profile photo of  Paresh Mahajan Asked By: Paresh Mahajan 3 replies 3 helpful answers Last Updated: 5 months, 2 weeks ago
  • Profile photo of  Paresh MahajanParesh Mahajan
    Participant

    My income from let out house property is negative. Can I ask my employer to consider this loss against my salary income while computing the TDS on my salary?

  • Profile photo of Neha JoshiNeha Joshi
    Moderator

    Loss from house property can be claimed against income from salary up to Rs 2 lacs for self occupied house property and without any limits for a rent out property for FY 2016-17. This will reduce your TDS amount.

    • Profile photo of Rahul KohliRahul Kohli
      Participant

      While your employer may not consider it for TDS you can always claim in while filing your tax returns and seek a refund.

  • Profile photo of Raghavendra VarmaRaghavendra Varma
    Participant

    Yes, you can claim
    The Loss from House Property is allowed to be set-off against Income from salary arising during the same year.
    The net income so computed after set-off of Loss under head House Property would be taxable as per the Income Tax Slabs.
    Yes, you can discuss the same with your employer and submit the relevant proofs to consider the loss from your house property. If your employer doesn’t consider then you can claim that loss while filing your Income tax return.

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