Dear Experts,
I have taken Housing Loan for my Flat of Rs.50Lakh and paying the EMI myself. Due to my personal financial urgency, I have given my flat for a lease of Rs.10Lakh to one of my friend. Please suggest me the income tax benefits on the same. Now my situation as follows.

1. I have Rs.50Lakh housing loan on a flat and I am repaying the EMI to the bankers. I have self occupied that flat for 3 months only.
2. Due to job relocation plan and personal money urgency, now I have given my flat to one of my friend for an interest free lease of Rs.10Lakh for three years. After three years I have to repay him Rs.10Lakh and get back the house occupation. Till that time he has right to use the flat for his own purpose or let out the property as per his interest. If he let outs, he will receive the rent and I didn’t have any share on the rental income.
3. Due to cancellation of relocation plan, I agreed with my friend that I will pay him rent till next three years. Now I am staying in the same flat and paying rent of Rs.15,000/- PM to him. And also I am paying the EMI to the bank for the same flat.

Kindly suggest me how can I get tax benefit on the same.

Regards,
Mahendra

HI,
PPF investment is 100% tax free.

I decide to make an investment in PPF for myself and my mother for Rs.100000 each annually.

As known i can claim tax exemption for my investment in PPF to the limit of Rs.100000 u/s 80C.

Can my mother claim deduction u/s 80C too even if she has low source of income, e.g she earns Rs.20000 annually?

The payment is made by me and not by my mother.

If not then will the investment of PPF in my mother's name will become taxable and to whom? If yes the what will be the tax rate?

Instead of my mother i decided to make investment in my child's name of Rs.100000.
Now he has no source of income. Will the complete investment be taxable to me?

Please provide your insight.

If company deducted TDS of an individual then what will be the major head 0020 or 0021 ?

Dear,

Would anyone tell me the way to E-File the TDS. Iam E-Filing only through the software which NSDL provides (Free software). I really fed up with this software. I feel not easy to use & cannot understand why so much procedures like after complication of creating FVU file why we suppose to go NSDL mediators like Integrated Enterprises Etc.,Take long way. I need the simple process to do so.

Hi,
My query is regarding professional tax on directors remuneration in Maharashtra. The person is a director in a pvt ltd company and his professional tax is deducted and paid by the company. The person does not have a PT enrollment number. Does he need to obtain a Professional Tax enrollment number as director? Does he need to deduct his professional tax on directors remuneration, or if company is deducting it is sufficient and he need not register?

SIR,
I have tds receivable for the financial year 11-12...but i have not filled my I.T.return for that year...so can i file income tax return for financial year 11-12 now to claim tds for that year...
please help..
thanks in adv

Hi,

Please provide declaration format for landlord who does not hold any PAN card. Employees are required to submit landlord's PAN card details for claiming HRA this year whoever makes rent more than 1 lakh p.a. and if landlord doesn't have PAN then they need to submit a declaration for same.

Thanks in advance.

Hello Experts,
Please let me why now digital signature option is not coming at the time of conversion of text file into PDF . Upto 2 qtrs TRACE was giving facility of Dig. Sig. Now what happened? May be I'm doing something wrong. Please solve my query.

I am physical handicapped my salary is monthly rs 40000 should I ask my employer to deduct under section 80U at the time of preparing form 16

Sir, My client has received the notice regarding the short deduction of tds in salary for Rs.3900.

My question is whether the payment of Rs.3900 is enough, or else any interest and penalty is also there and under which section,which code(minor,major) and what is the nature of payment we have to quote in payment challan.

And how to mention that in the revised return?