nice sharing........

THANKS TEACHER

H @ PPY HO!D @ YS

........

1. Property income exempt to certain persons

2. An Ex-Ruler of (palace)

3.  Local Authority.

4.  Approved Scientific Research Association.

5. Institution for the development of Khadi and Village Industries., Khadi and Village Industries Boards.

6.  A body or authority for administering religious or charitable Trust or endowments.

7.  Certain Funds, educational institutions, hospitals etc. Registered Trade Union.

8.  Statutory Corporation or an institution or association financed by the Government for promoting  in the interests of members of SC or ST.

9. Co-operative Society for promoting the interest of the members of SC or ST.

10.  Charitable Trust.

11.  Political Party.

thanks

you cancheck last lessons from here../...

Salary doubts

Salary ...

"Basics of the tax ....."

Basics of the tax questions

Deemed Owner

1.Transfer to a spouse or minor child

2.Holder of an impartible asset.

3.Member of a cooperative society.

4.Person in possession of a property.

5.Person having right in a property for a period not less than 2 years. 

CO-OWNERS

Where the property is owned jointly by two or more and their share is definite and ascertainable,they shall be assessed individually on their shares in the income from the property.

This point is so small but yet once they asked in my pcc exam..i did wrong.i blame myself for not going through it deeply.They even ask by merging it in Total income Computation..Even in final...This house property seems easy and small,but every time i see it,its new for me..............

House Property Theory.........

yes 
i downloaded this File ..........
Thanks
 

On Determination of NET ANNUAL VALUE (NAV)



The Following FActors Are TAken To Consideartion - 

1. Actual RENT Received Or Receivable

2. Fair Rent

3. Municipal Value

4. Standard Rent .

.

.

.

.

For ascertaining The GROSS ANNUAL VALUE



EXPECTED RENT



is Comapared With Actuall Rent Received Or Receivable  

And Whicever is Higher Become GROSS ANNUAL VALUE 

* Exception = Where the Property is let out And was vaccant for whole or part of the year and the actual rent received is LESS THAN then  Amount Receivable ......

**Expected Rent = Haigher value Of MUNICIPAL VALUE AND FAIR RENT But Subject to the Limit Of Standard Rent..........

AND MUNICIPAL TAX is Deducted From GROSS ANNUAL VALUE To find NET ANNUAL VALUE ///////











*** MUNICIPAL TAXES ARE ACTUALLY PAID BY THE ASSESSE



And 

IT is BORNE BY THE ASSESSEE.................



































DISCLAIMER - This Concept Written is on my Own language



If any point is missing Then Correction is Highly appreciated 

Great going my dear sis, your doing wonderful work.Glad to be part of CCI and  feel proud to have sis like u..

Best of luck sis

Keep rocking dear...

Another One... Plz Find the Attachment.....

Dear Renu & Karthik.e & all

Thanks , I am having few question about deemed owner.

I owned property in my sole name, I am going to rent this property in near future, but want to earn rent income in the hands of my parents,

So my question is

1)  How can I make my parents - dad & mom as Deemed owner of this my property ? what are the ways that Income tax dept will consider my parents as deemed owner ??

one of the method is by a) Gifting flat to parents, Any other way  ??

2)  Someone recommending me some spilting of rent, as rent for House property & rent for furniture, how this help in Tax saving ??

3)  Is transfer & gifting is same or there is differance in these both concept ??

@ Manjul ...

ur points are correct. But vacany loss is also deducted after calculating expected rent.

@ Balu bro...

Thanks a lot.

@ Sanket ...

Plz make sure that file hasnot any wrong information.

A req to all seniors