Income from houseproperty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2012
Sir
I am a senior citizen. I have house property with 2 floors 2nd floor is let out to bank at a monthly rent of Rs.38000. I took a loan from bank for Rs.30,00,000 @ 15% interest p.a. Bank officials asking TDS Form 16. But according to Income from house property I am not a tax payer
Gross Annual Value 38000*12 456000
Muncipal taxes 30000
Neat Annual Value 426000
- Standard Decution30% 127800
Interest on borrowed Cap450000 577800
LOSS FROM HOUSE PROPERTY - 121800
SO I HAVE NOT INCOME. IS IT NECESSITY TO GIVE 16A. THEY ARE DEDUCTING TAX BUT I AM NOT A TAXABLE ASSESSE.
GIVE SUGGESTION TO ME FOR NOT DEDUCTING TAX BY THE BANK. IS THERE ANY ALTERNATIVE PROCEDURE. PLEASE GIVE SUGGESTION. I AM EAGERLY AWAITING FOR YOUR RESPONSE
I am a senior citizen. I have house property with 2 floors 2nd floor is let out to bank at a monthly rent of Rs.38000. I took a loan from bank for Rs.30,00,000 @ 15% interest p.a. Bank officials asking TDS Form 16. But according to Income from house property I am not a tax payer
Gross Annual Value 38000*12 456000
Muncipal taxes 30000
Neat Annual Value 426000
- Standard Decution30% 127800
Interest on borrowed Cap450000 577800
LOSS FROM HOUSE PROPERTY - 121800
SO I HAVE NOT INCOME. IS IT NECESSITY TO GIVE 16A. THEY ARE DEDUCTING TAX BUT I AM NOT A TAXABLE ASSESSE.
GIVE SUGGESTION TO ME FOR NOT DEDUCTING TAX BY THE BANK. IS THERE ANY ALTERNATIVE PROCEDURE. PLEASE GIVE SUGGESTION. I AM EAGERLY AWAITING FOR YOUR RESPONSE
19 December 2012
Apply in form 13 to assessing officer requesting to issue certificate for deduction of tax at lower rate. Submit certificate to bank.
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