an urgent query
This query is : Resolved
08 February 2013
An Assesse is A director On TWO of Companies having Interest on Housing Loan of Rs. 1,00,000 ,
I.e he can Claim Deduction U\S 24 now my Query for Computation of Advance tax liablity Individually in for each company
How Do we take the interest Of Housing Loan Can we take Proportionalty or Take On Some other BASIS
Thanks A lot in advance
I.e he can Claim Deduction U\S 24 now my Query for Computation of Advance tax liablity Individually in for each company
How Do we take the interest Of Housing Loan Can we take Proportionalty or Take On Some other BASIS
Thanks A lot in advance
08 February 2013
You have to calculate TDS liability.
.
Consider the interest in any one company.
.
TDS in both the company should be deducted in such a manner that total TDS amount satisfies his overall tax liability.
.
In one company you may have to forget the basic exemption limit and apply the higher tax slab rates also.
.
.
Consider the interest in any one company.
.
TDS in both the company should be deducted in such a manner that total TDS amount satisfies his overall tax liability.
.
In one company you may have to forget the basic exemption limit and apply the higher tax slab rates also.
.
08 February 2013
Thanks a lot sir ..
One more thing can we Take Deduction u/s 24 proportionality ??
Thanksss alot..
One more thing can we Take Deduction u/s 24 proportionality ??
Thanksss alot..
08 February 2013
It is better to consider in one company so that its verification becomes easier.
.
There is no change in overall tax liability so, unless it's not necessary to do so, it should be avoided.
.
.
There is no change in overall tax liability so, unless it's not necessary to do so, it should be avoided.
.
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