Set off of loss on house property against salary , Income Tax

[BALA]

I am an employee . Have 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 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 please . with regards,

Posts / Replies

[Ramanujam V]

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 out, but in such case, the rent component should be taken as income while computing the house property income.

[surabhi agarwal]

loss under the head house property can not be set off against salary