Amol Rajadhyaksha
20 April 2014 at 11:54
I am planning to purchase house property for letting out and staying on rent in a house closer to my office. The legal ownership of the purchased property will be jointly with my mother. Also she will be a co-applicant for the home loan. In respect of funds, the equity will be entirely brought in by me and the EMI will also be serviced by me. I do not want my mother to go through the trouble of complicated tax filing. So can I show the entire rental income and the interest deduction benefit under my tax computation? The rent agreement will be in my name. Pls advise.
Dattatraya Vilas Pawar
19 April 2014 at 15:37
My Advocate friend is working under a company as a legal team member and from sales tax department he got a notice and asked him to pay the professional tax because earlier he has been practised as an advocate. Company pay the Professional tax on behalf of my friend which is deducted from my friends salary.
now what my friend will be do?
he has to pay the professional tax, but what about company, company deducted the same from my friend salary?
what he will do?
what procedure he has to follow?
Thanks & Regards.
atul
18 April 2014 at 16:00
SIR,MY WIFE IS A HOMEMAKER. SHE HAS FIXED DEPOSIT OF AROUND RS 500000/- ON WHICH SHE IS GETTING INTEREST MORE THAN 10000/- BUT HER TOTAL INCOME IS UNDER INCOME TAX SLAB.CAN SHE SUMIT FORM 15H IN THE BANK FOR AVOIDING TAX DEDUCTION.IS THERE ANY WAY OF AVOIDING TAX DEDUCTION??.THE FIXED DEPOSIT IS FROM HUSBAND EARNINGS.
**zubair**
14 April 2014 at 21:43
In the month of April 2013 I booked (Purchased) a plot (piece of land) on installments from a builder & developer. I am paying monthly installments. Do I get any tax deduction in this regard and under which section of income tax law.
**zubair**
14 April 2014 at 21:35
I recently purchased two LIC policies. I paid the premium in cash. I want to know can my father claim deduction under section 80C in his income tax return on the premium I paid in cash. My father is a pensioner aged 71 & I am 35.
YAGNESH HASMUKH DAVE
14 April 2014 at 12:24
dear sir i have confusion in service tax calculation in work contract in which reverse charge and 40% abatment as some ca given me difference calculation for example calculation 1- if gross amt-1,00,000/- first do 50% reverse charge of gross which come to 50,000/- then do 40% abatment which come to 20,000/- then do 12.36 on it which comes to tax 2472 which i have to pay as reverse charge and calculation 2- gross amt 1,00,000/- do 40% abatment which comes to 40,000/- do 12.36 tax on it which comes to 4944 and then 50% of tax which comes to 2472 which i have to pay . there is no change in tax amt but their is change in gross amt so i am confused which calculation i should consider pl advice
k r purushothama rao
13 April 2014 at 21:22
I am residing in my own property can i claim maintenance expenses at 30% while assessing my income tax liability in addition to annual property tax i an not earning any return from my property as it is self occupied
Manoj k Soneja
13 April 2014 at 10:22
my firm is huf kartar, my dad was kartar he has expired i am eldest son so what procedure shall i follow for sales tax will my mvat no be same only kartar will change or i surrender old mvat sales tax no and apply for new and how do i apply for huf pan card also advice me
Ashwani
13 April 2014 at 02:58
I am dealing in taxable or non taxable (exempted) goods when i did the registration. but now i am dealing in only in exempted goods(children books)but my turnover exceeds 10 lacs. can i surrender my registration certificate.then yes plz give a procedure.
(IN RAJESTHAN)
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Income tax
Dear Experts,
Our housing Co-op society proposes to invite Maintenance Fund Deposit ( Interest free ) from its member.
The Society further proposes to keep the same in a Co-Operative Bank in the Joint Name i.e. Society"s will be at First holder Name, Jointly with concerned member at second .
The interest accrued on such deposit will be credited to the society's account directly by bank and society in turn will adjust the same amount in the maintenance fund payable by the member from time to time.
further, at the time of maturity, the fund (Principal) will go back to member's account as per the terms and conditions laid down while putting the FDs with Bank.
Query :-
What will be the Income Tax Liability of such interest income generated.
Interest is credited directly to Hsg Society's account (exempted being co-op to co-op).
Or, will it be liable to member ???
Thanks and Regards