Proof to be given to employer for adjustment of House Property Loss from Salary Income

By | July 18, 2017
(Last Updated On: July 18, 2018)

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).

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