House rent
This query is : Resolved
24 December 2013
A PERSON HAS 3 STOREY BUILDING ON THE RENT OF 21000 P.M, HOW TO SAVE TAX ON THIS
CAN HE TAKE THIS AMOUNT BY CASH TO AVOID TAX?
CAN HE TAKE THIS AMOUNT BY CASH TO AVOID TAX?
24 December 2013
His income from House Property will be computed as under:
Annual Value (21000*12) 2,52,000
Less:Municipal Taxes (Actual)
Gross Annual Values
Less: Deduction @ 30%
His income is less than Rs. 2 lakhs.
If he has no other income then he is not liable to tax.
Annual Value (21000*12) 2,52,000
Less:Municipal Taxes (Actual)
Gross Annual Values
Less: Deduction @ 30%
His income is less than Rs. 2 lakhs.
If he has no other income then he is not liable to tax.
Nikhil Kaushik
(Expert)
24 December 2013
rohit bhai,
by taking cash you evade tax not avoid it!
by taking cash you evade tax not avoid it!
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