I got 3 houses in Hyderabd from which i am not getting any
rent because In A house i occupied for my family, No.B was
occupied by My father and C was occupied by my sister.I am
putting Nil in the column mentioned for income from house
property. Is it right or wrong pl let me know
- 2 Answers
- 4013 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sam
It is wrong.
As per Income Tax if you are having more than 1 house, then
only 1 house will be treated as Self Ocupied Property (SOP)
& other will be treated as Deemed to be let out Property
(DLOP). So the rent (as per municipal valuation) of DLOP
will be treated as income & included in Income from HP.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / mbsaggarwal
IT IS WRONG AS THE ASSESSEE WILLHAVE TO PAY TAXES UNDER THE
HEAD INCOMEFROM HOUSE PROPERTY TREATING ANY ONE HOUSE
PROPERTY AS SELF OCCUPIED AND REST OF DEEMED TOBE LET
OUT.ASSESEEE MAY CHOOSE ANY HOUSE PROPERTY AS SELF OCCUPIED
PROPERTY.
| Is This Answer Correct ? | 1 Yes | 1 No |
What are TDS rates for the year 2007-08
what is turnover? how can i comput it
Please Advise When issue form F monthly Basis or quarterly basis.
serice tax can be exempted in calculation of tds on contract wages as exempted like rent on service tax
TDS Rate is applicable on Technical Testing & Analysis
any idea to get the latest simple guide for the taxation information of India?
Timings / Months when the advance tax shud be paid For Individual?
This is related to stock transfer to branches ( Delhi & Bangalore ) for which my branches are not able to produce form 'F' agaisnt such branch transfer, than what is my tax liablity. This issue is pertaining to 2006-07, 2007-08 & 2008-09.
I plan to buy a new flat in Hyderabad which has never been registered before. Area of the flat is 1115 Sq. ft. I intend to know the following things.1.) what should be the amount of registration?.2.) Is there any VAT. If there is VAT what is the percentage?.3.) Is there any service tax. If so, what should be the percentage? as per F.Y 12-13 rule
i have purchase 2no. air conditioner & some other f\a for office & pay vat according to bill can i take inpute vat banifits in the quater returns what is the process for taKEN BENFITS OF VAT.
What are the basic and additional conditions for resident and ordinarily resident (ror)?
this is regarding the C form. suppose Mr A registered dealer in Haryana and Mr B registered dealer in UP and Mr A issue a Purchase Order which include 4% CST on Price to Mr B for purchasing the goods. In this scenario, is Mr A is required to issue the Form C to Mr B?
Audit 
