How to Report Loss from House Property or Other Heads to Employer?

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Loss from house property  is the sole hope for salaried employees to save tax on the loan borrowed for home and as such reporting such loss in a prescribed form is beneficial to salaried class.Income Tax Act under sub-section (2B) of section 192 enables a taxpayer to furnish particulars of income under any head .However, loss is allowed to be reported only in case of loss from house property is for the same financial year.

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