Rental income from letting of floor to bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2013
Dear all,
My husband has a premises which is to be let out to bank. income arising therefrom is taxable with his income. He is a salaried employee and of now he gets taxed in the 30% bracket. The TDS on this income will be deducted at 10%. Effectively, he will be liable to pay additionally 20%. is there any way by which he can reduce the tax burden. Is gift in my name (wife) possible only for that floor or any other possibilities. Please guide.
My husband has a premises which is to be let out to bank. income arising therefrom is taxable with his income. He is a salaried employee and of now he gets taxed in the 30% bracket. The TDS on this income will be deducted at 10%. Effectively, he will be liable to pay additionally 20%. is there any way by which he can reduce the tax burden. Is gift in my name (wife) possible only for that floor or any other possibilities. Please guide.
Anil Sankar V
(Expert)
12 July 2013
clubbing provision will apply on transfer.so not much difference.but a solution if u have a major son/daughter.
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