Daljit Singh Mann
17 October 2012 at 12:40
Respected Sir,
We (Husband & Wife) have taken joint home loan from Axis Bank. Mode of repayment of home loan is auto debited from my Axis saving Bank Account and my wife is owner of such house. Please tell me :-
1 Who can take rebate in Income tax on such payments, my self or my wife ?
2 Can we both take rebate jointly in Income tax on such payments.
Thanks and Have a Nice Day
Kapil Tiwari
17 October 2012 at 02:55
1)A person has leased out commercial property @ Rs 30000/- per month. Rent is received after TDS deduction @ 10% = Rs 27000/- per month. What would be the taxable income and net tax payable with regard to this rent received? Please help and elaborate with calculations if possible. Also provide any ways of tax planning/saving regarding the same. 2)Is there any difference between computing tax on rental income from residential property and rental income from commercial property? Do they both fall under the same head "Income from House Property"? 3)How does one differentiate Residential Property from Commercial Property? What are the documents which show the difference between the two? 4)Is there any possibility that rental income from such a simple lease agreement can tantamount to profits/gains/income from profession or business? The assesee, who has given the property on rent, is a retired semi-literate person and is not involved in the activity going on in the leased premises.
sneha
16 October 2012 at 22:13
what is the Capital gain tax on sale of land and building of industrial unit ? and what are the exemptions that can be claimed ?
sneha
16 October 2012 at 22:10
Can you please provide the details under which TDS on Royalty is deducted.
Please provide the whole article on it.
sneha
16 October 2012 at 22:04
Can you please provide the whole article on TDS on GTA (GOODS TRANSPORT AGENCY).
Member (Account Deleted)
15 October 2012 at 12:31
As part of MCD, I have got a settlement amount of 10,00,000. My queries as follows,
1. Do I need to include them when I do my Income Tax returns?
2. If so, under what section it come?
3. Is it expemted from Tax or tax will be deducted from it ?
B@75BHAIBABU
14 October 2012 at 20:37
if a deed writer is writing a sale deed ,can the same deed writer signature as witness in that same sale deed at the time of its execution in registrar office.i there any section and rules where it is specified who can be witness
rajnish
14 October 2012 at 20:37
Dear Sirs.
My mother who is 52 year old is recieving monthly pension of Rs 40000 after my father's death who was a reader in degree college.
I want to know about the tax saving possibilities allowed as per Income tax rules for FY12-13 and total tax applicable after all deductions.
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Vat tax on property
1) VAT TAX on Property:-
A few buyers have entered into agreement before the Completion of Construction. Are they liable to pay VAT on such purchase. Builder has put a clause in agreement also regarding payment of VAT if the Government wins the case.
A few buyers have entered into agreement after the Completion of Construction ie OC have been received. Builder has put a clause in agreement also regarding payment of VAT if the Government wins the case in such agreements as well. But to our knowledge such transaction does not give rise to VAT tax liability. Are they liable to pay VAT on such purchase.
Builder is asking VAT @ 5% on Agreement Value. Is he justified. He must pass the set off benefit to us or not.
If he must then what must be effective Rate at which VAT payment must be made. Also on what Value such VAT must be paid.
2) Builder is not passing the Conveyance in favour of society:-
He is delaying it on the pretext that that he still has 4 Galas left to be sold & that if the Society bears the Registration free then only he will transfer the Conveyance to Society. Is he Correct in asking so???
We would be very helpful if you could guide us.
Thanks & Regards,
Vishal Jain
Member of Kushal Mangal Industrial Estate..