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
Prakash Kochar
(Expert)
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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