Income tax calculation on rent
This query is : Resolved
03 April 2015
Please confirm the following calculation is correct or not
Total Rent Recd 2069544.00
Less :Property Tax
shop 1 7017
Shop 2 45760
2016767.00
Std deduction 30% 1411736.9
Less
80C 150000
80D 20000
1241736.9
120000 more than 100000- Rs.120000 + remaining 30% )
72521
192521
ED cess 5776
Income Tax Payable 198297
Total Rent Recd 2069544.00
Less :Property Tax
shop 1 7017
Shop 2 45760
2016767.00
Std deduction 30% 1411736.9
Less
80C 150000
80D 20000
1241736.9
120000 more than 100000- Rs.120000 + remaining 30% )
72521
192521
ED cess 5776
Income Tax Payable 198297
03 April 2015
Your calculation is correct
Message likes :
1 times
03 April 2015
above calculation is for Senior citizen < 80yrs.
Is there any exemption ?
Is there any exemption ?
03 April 2015
No there is no as such exemption for income from house property
Message likes :
1 times
16 April 2015
for above calculation i have to pay advance tax but we have not paid.
please let me know how much interest i have to pay if i paid it by 20th april
please let me know how much interest i have to pay if i paid it by 20th april
16 April 2015
http://www.simpletaxindia.net/2009/12/pay-your-advance-tax-on-time-otherwise.html
Message likes :
1 times
16 April 2015
http://finotax.com/income-tax/intt234
16 April 2015
if the person is senior citizen is any exemption of advance tax
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