Income Tax FAQs
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Answered Questions
Some answered questions are disoplayed here. Many more have been moved to the individual articles: please click here [They can be found at http://wiki.edeskonline.com/index.php?title=The_Talking_Taxman#Scheme_of_articles Scheme of articles ]
Question:I want to rent out my own house
to tenant (family).Let me know all legal documents and important points to be taken care, before renting out. I am in 30% tax bracket.Kindly guide on all tax forms and aspects. S.K.Patel (via mail)
ANSWER THE FOLLOWING DOCUMENTS TO BE PREPARED 1) TENANCY AGREEMENT 2) REGISTRATION IF MORE THAN 11 MONTHS PERIOD 3) UNDATED LETTER OF HANDING OVER OF FLAT BACK TO YOU 4) TENANCY AGREEMENT MUST COVER ALL POINTS AND SHOULD BE WATER TIGHT ssunderagarwal@sify.com (reply sent-070723) (keep here)
Question: What is the procedure to surrender our PAN?
Q: What is the procedure to surrender our PAN?
Answer:
You have to make written application and return the pan card to the department for cancellaation ( answered by mr kapoor )
Question: What charges I have to pay you to get your help?
I am retired person and till now I have been filing returns regaulary till last yera when I was in service and got retd attaining the age of 60 on 4.5.2006. This year I have to file my IT return for 2006-07.
There may be a little amount of refund, also as TDS have been deducted by SBI on my deposits
What charges I have to pay you to get your help.
Kamal Shukla(Via Mail)
Answer : The charges are nominal . Typically for a question like this it will cost Rs. 100 .(reply sent-070717)
Unanswered Questions
What would be tax liability for me?
I have an income of around 5 lakhs in last year including 1.8 lakhs from scholarship which is tax free,2 lakhs from agriculture and remaining 1.2 lakhs from other source. I have filed returns second last year but not in last year. I have also started some investments in feb 2006 for which I am getting returns now. If I would like to file returns, What would be tax liability for me. Amjad Hussain.
I want to find the total tax
Hi, I want to find the total tax. Please find the my salary details: Basic 257520/- Conveyance 36000/- HRA 103008/- Domiciliary Medical 15000/- Professional Development 12876/- Other Allowances 219243/- LTA 21451/- Company Contribution to Provident Fund 30902/- I have house loan of 24lac. so interest would be definitely 150000. and I will submit all the proofs for 1 lakh saving... so based on this calculate the tax. (yours_kk2001@yahoo.co.in)
See Also
- View a full fledged demo on eDeskOnline
- Taxation in India
- Income tax in India
- Permanent account number for Income tax in India
- Income tax in India for Individuals
- Income tax in India for Partnership Firms
- Income tax in India for Corporates
- Income tax in India for Hindu Undivided Families _ HUFs
- TDS Tax Deducted at Source Indian Income Tax
- My eTax Profile.
- Capital Gains (India)
- Advance Income tax in India
- Guide to filing tax returns
- Income Tax FAQs
- Income tax in India
