Can I make a my HOUSE RENT AGREEMNT in the favour of my wife
(LAND LORD) of Rs. 25000/- (twenty five thousand per
month).

if yes then what are the liabilities on me and my wife
(land Lord) w.r.t INCOME TAX Act.

Answer Posted / guest

Yes.. But U cannot use exemption under section 80GG.
Liability will only be on u.

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

if i have a comany take contract from gvt. & i take contract from that company, & in his bill he show about all tax deduction ike IT, WCT etc, but material is purchase by that company not by us so here i want to know how WCT applicable? on total amount of contract or according to rule like material service & after adding all things??

1142


Sir, We purchased coal from NCL on CST basis. An incentive is paid on the basis of performance basis of NCL. NCL Raise there incentive bill for Rs. 1000+CST2% Rs.20 Total Rs. 1020/-. But As per Our Calculation, Incentive bill should be Rs. Basic 900+18 (CST)total Rs. 918. We argue and disputed and paid only Rs. 918/- . After Some time they also agree that incentive amount should be Rs. 900+CST but Now they revised the bill like this Basic Incentive Rs. 900+CST Rs.20/- (Original Tax value). And now they are demanding C for with CST 20/- but our pleas is that we are not liable for the mistakes made by the NCL and will issue C for for Rs. 18 Only. Now They are demanding C for for difference of Rs. 2 of CST. My Question is what should be the actually value of C form for CST ie. Rs. 18 or 20. considering the fact that we accounted only rs. 918/- in books and disputed is resolved after one year for basic value.

1455


can penalty be imposed under sec 96 of vat act west bengalfor goods destroyed or damaged

1909


which purchases is profitable for us a building material purchases from direct of contactor ?

1451


How can the management breakup the salary of employee(if salary Rs.10000/-) which % they calculate the Basic,T.A,D.A,H.RA.and e.t.c.

1663






What are all include taxation...? What is to be noted in the taxation...? Hints would be highly appreciated.

1422


define double entry bookkeeping

1813


How to calculate the TDS

1810


Can I know the full description about capital and revenue in nature? and also the expenses that allowed for tax and not allowed for tax?

1483


How calculate Rent income exemptions from taxable income under income tax act.isnn't 30% of total income???? plz explain with example?

1511


Hi, Is there limit of applicablity of excise payment for any orgnization...?? what is date of excise payment..?? Excise return date & what procedure & how to take benifit availing service tax in excise return..? What form reuire for Excise Return..??

2988


what is the percentage of vat like 4 % , 12.5 % etc ? how can do closing stock valuation ?

1719


why VAT not charged in deemed sales bill.

1733


what data require for liability calculation under work contract tax composition scheme and regular method.

1658


What do u mean by sales tax and who are sales tax practitioner ?

1898