Need A Financial Product Forums Tax Savings My employer is denying adjustment for loan interest in taxation

This topic contains 1 reply, has 2 voices, and was last updated by  Nikunj Vohra 2 years, 10 months ago.

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  • #47071

    Nikunj Vohra
    Member

    In January 2014, I borrowed a loan from Co-op credit society. I mentioned it specifically as loan borrowed for acquiring a house. I started paying EMI immediately on monthly basis. My employer denied adjusting the interest payment for calculating income tax. He said that had it been loan from bank, they would have given me tax benefit. Am I really not eligible?

    #47072

    Tushar More
    Member

    If your employer is not agreeing then you can show it directly in your ITR and can claim benefit from there. The only thing is that you should have documents to prove it as home loan.

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