This discussion clarifies income tax queries, specifically addressing whether the 'self-occupied' rule for residential properties applies to commercial properties (it doesn't). It also provides the income tax slab rates for AY 2019-20 for individuals and HUFs, including special provisions for senior and very senior citizens. Additionally, it touches upon whether rent-free accommodation benefits are added to salary if employees work from home due to the pandemic.
Sir, Good Morning. sir, income from house property me do house self occupied mante hain or unki value Nil hoti hain toh kya yeh rule commercial property per bhi applicable hain.
It's not applicable for commercial property, you can take residential property as self occupied property, not commercial under head "Income from house Property" [But..Yes, there is some tax planning tools]
@ Mr.Arun kumar
Income tax Slab rate for individual, HUF ect. for A.Y 2019-20 Income up to 2,50,000.........NIL 2,50,000 to 5,00,000............5% 5,00,000 to 10,00,000.........20% above 10,00,000.................30%
(For senior citizens NIL up to 3,00,000 and for Very senior citizens NIL up to 5,00,000)
Note : An additional 4% Health & education cess will be applicable on the tax amount calculated as above. Plus surcharge, if applicable
Nameshte, Sir. Sir, agr employees corona ki wjh se work at home(khud ke hi ghar se) kr rhe hain.aise me kya rent free accommodation ki facilities unki salary me add hogi.
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