Income 4m Salaries/Double Taxation
This query is : Resolved
Sangeet Lodha
(Querist)
29 July 2010
Mr. A recieves Rs.15000 p.m. as rent income from a house property let-out to
X Ltd... X Ltd. uses provides his employees rent free accomodation in the said house property... Mr. A is one of the four employees who use to live in that house property provided by X Ltd.
He recieves Rs.20000 p.m. as Salary & Rs.10000 as D.A. from X Ltd.
Now my question is what will be the tax liability of Mr.A
He is liable to pay on perquisites(RFA) as well as on Income from HP on the same property...
Will there be double tax imposed on him...
Plzgive the tax treatment...
X Ltd... X Ltd. uses provides his employees rent free accomodation in the said house property... Mr. A is one of the four employees who use to live in that house property provided by X Ltd.
He recieves Rs.20000 p.m. as Salary & Rs.10000 as D.A. from X Ltd.
Now my question is what will be the tax liability of Mr.A
He is liable to pay on perquisites(RFA) as well as on Income from HP on the same property...
Will there be double tax imposed on him...
Plzgive the tax treatment...
29 July 2010
ya he is liable to pay both. this concept is useful if Mr.A has to pay huge interest on the loan for the house. cos if it is self occupied maximum he can claim is Rs. 150000/-.
this is called self leasing
this is called self leasing
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