Rent received
Querist : Anonymous
For Housewife's received monthly Rent of Rs 50000 for the FY 2012-13. How to calculate Income Tax & Return filling.
Thanks in Advance.
The Rent Income will be etaxable under the head "Income From House Propert".....
Less- Municipal Taxes - 0/- (since you have not provided details)
Net Annual Value - 6 lakhs
Deductions -
30% standard deduction - 1.8 lakhs
Interest - Nil (No details)
Income from house property - 4,20,000/-
Tax Payable - (4.2 lakhs - 2 lakhs)*10% = 22,000/-
Add Education Cess @3% to get the total tax liability
How could rent received be taxable as income from other sources?
Querist : Anonymous
How to calculate Tax, pl give one example
Suppose Rent Recd Rs.50,000 X 12 months 6,00,000 /- (Already Tax deducted every month from Flat Owner as per IT Rules).
Pl reply. Thanks.
Add- education cess to it (3%)
Reduce Tax Deducted at source from the tax liability
Querist : Anonymous
As per your example Rs 22060 Tax payable.
Every month Owners Tax deducted from Rent. Can i considered the above Tax my annual income.
Pl reply.
Thanks.
Tax payable..................22660
(-)Tax deducted at source....xxxxx
Net tax payable.............xxxxx
Also consider Muncipal Taxes Paid and Interest on home loan (if any).
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
