Whether Notional Interest on Security Deposit received for property given on rent chargeable to tax?
An assessee received interest-free deposit in respect of a shop let out on rent. Whether the notional interest on it i.e. interest that would have been earned on it bebrought to tax? If yes it shall come ...
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The Blogs
Income under the head house property: Chargeability
Income under the head house property: Chargeability
In the today’s world people prefer to invest more and more sum of money in property. It is generally presumed that investing in property is safe and gives high return. In this article ...
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Claim deduction @ Rs. 5,000/- pm if living in a rented premises- Section 80GG
Claim deduction @ Rs. 5,000/- pm if living in a rented premises- Section 80GG
Query 1]
I am not owning any house as of now and living in a rented premises. Neither me nor may parents have any house property. My ...
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Profit arising from sale of property & Tax saving options
Tax saving
Query 1]
I request you to kindly suggest me on the following issue. I have sold residential cum commercial plot at Bhopal for Rs. 1 Crore, which I had purchased for Rs. 28,000/- in the year 1994. Deal was ...
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Not actual rent, House property is taxable on the basis of its Annual Value
House property
Query]
If I purchase the second house property for my own use, still whether I would be require to pay the tax? I don’t wish to let out the second house but want to purchase it for investment ...
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Beware, there is a penalty for property transactions in cash
property transactions
Query 1]
I am to get some amount in March 2016 on redemption of ELSS MF done in March-2013 for tax savings. Whether I shall have to pay IT on LTCG or otherwise? Kindly enlighten me in this matter. ...
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Ownership of land is not a pre-requisite for having agricultural income
Query 1]
Sir, My uncle is an agriculturist. Due to his old age he is unable to cultivate land. He proposes me to do cultivation & I would be getting 50 % of the produce. He is filing his IT ...
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Interest on Housing loan shall be restricted to Rs. 30,000/- if construction not completed within 3 years
Interest on Housing loan shall be restricted to Rs. 30,000/- if construction not completed within 3 years
Query 1]
I am an employee in a PSU residing at Bilaspur. I have a house property in Bhilai which I am unable ...
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INVESTMENT IN PLOT IS ELIGIBLE FOR CAPITAL GAIN EXEMPTION
INVESTMENT IN PLOT IS ELIGIBLE FOR CAPITAL GAIN EXEMPTION
Query 1]
l own house in Nagpur, Can I buy second home in Mumbai with the money I received after selling agricultural land, Plots & shop purchased in 1990. I want to ...
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SECOND HOUSE PROPERTY &; INCOME TAX IMPLICATION
INCOME TAX IMPLICATION
Query 1]
Sir, Presently I own a house and repayment of entire loan amount is already over. I now wish to purchase a second house. My wife is also working. I want to register the house in joint ...
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