Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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last man standing says : house rent query
i am employed on contract basis and have a consolidated monthly salary of 50,000. it has no breakups(basic, hra, ta, da etc.). i have a house which is wholly owned by my wife right from the beggining(she is a home-maker). how much(5000, 10000 ??) can i transfer every month as house rent to her saving acct by cheque so as to get the maximum IT exemption.????? she will show it as her income. thats not a problem. thanks

Muhammed Iliyas says :
Our Company having a property and leased to various companies and individuals. We have received the rent for leased property. Please help me how to account it and minimize the tax liability. Please advice us weather it is benefit by opening a proprietorship concern or firm or pvt ltd. What are advantage and disadvantaged also.

Muhammed Iliyas says : Top Urgent
Our Company having a property and leased to various companies and individuals. We have received the rent for leased property. Please help me how to account it and minimize the tax liability. Please advice us weather it is benefit by opening a proprietorship concern or firm or pvt ltd. What are advantage and disadvantaged also

hardeep singh says :
total salary amoumt is 500000 CAN WE BREAKUP LIKE THIS ;- basic 30800 HRA 15400 CONVEYANCE ALLOWANCE 2750 OTHER 1050

hardeep singh says :
hardeep singh ( Author ) 03 June 2011 I want to know, are Basic , Dearness allowance , HRA given on Fixed Percentage of gross salary or any amount