Quotes attributed to Coutinho's agent, Cacau Barbosa, on Thursday suggested that the winger was a top target for Villa during the January transfer window.
While pointing out that no deal had been agreed, Barbosa claimed that the Premier League club had enquired as to the winger's availability.
Villa have informed Sky Sports that this is not the case, with no approach having been made.
Paul Lambert is in the market for new recruits, but Coutinho is not considered to be a name towards the top of his wish list.
It is possible that Countinho will be on the move during the current window, as the Brazilian is out of favour at Inter, but any imminent switch to Villa Park would appear to be unlikely.