Rent
This query is : Resolved
21 December 2012
Sir,
In order to save tax i want to show that i pay rent to my father(ownership flat).( Rent amount around Rs.10,000/-pm.)
what requirements are to be fullfilled.
Pl reply me soon as i have to give details to my employer.
Regards
PK Dadnekar
In order to save tax i want to show that i pay rent to my father(ownership flat).( Rent amount around Rs.10,000/-pm.)
what requirements are to be fullfilled.
Pl reply me soon as i have to give details to my employer.
Regards
PK Dadnekar
21 December 2012
IT WILL NOT BE GENUINE TRANSACTION . YOUR FATHER HAVE TO SHOW SAME THING IN INCOME .
21 December 2012
GIVE YOUR EMPLOYER A COPY OF RENT RECEIPT
21 December 2012
It will save tax only if your father have income not exceeding the maximum exemption limit including the rent amount.
21 December 2012
Draw a rent agreement and then tell your father to issue you monthly rent receipts. Then deposit the annual rent receipt together with the agreement with your employer.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- EXPORT COMMERCIAL INVOICE HSN CODE
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Cash balance limit and property purchases limit
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
