What are the proof to be submitted to employer for adjustment of House Property Loss from Salary Income
The employee has to furnish before the employer a
i) certificate from the person to whom any interest is payable on the borrowed capital specifying the amount of interest payable.
In case a new loan is taken to repay the earlier loan, then the certificate should also show the details of Principal and Interest of the loan so repaid. [ Section 24(b) of Income tax Act ]
ii) For Deduction of interest under the head “Income from house property“. Employee has to submit Name, address and permanent account number of the lender. [ Rule 26C of Income tax Rules ]
iii) Form No. 12BB. (Furnishing of evidence of claims by employee for deduction of tax u/s 192).
Standard deduction from salary income w.e.f FY 2018-19 (AY 2019-20)
Govt clarify standard deduction to pension received from former employer: Press Release 05.04.2018
Pension income taxed as salary income?
Salary From More Than One Employer : Discharge of income Tax Liability
salary income and Income Tax Questions