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House rent

This query is : Resolved 
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(Querist)
24 December 2013 A PERSON HAS 3 STOREY BUILDING ON THE RENT OF 21000 P.M, HOW TO SAVE TAX ON THIS
CAN HE TAKE THIS AMOUNT BY CASH TO AVOID TAX?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 December 2013 His income from House Property will be computed as under:

Annual Value (21000*12) 2,52,000
Less:Municipal Taxes (Actual)
Gross Annual Values
Less: Deduction @ 30%

His income is less than Rs. 2 lakhs.

If he has no other income then he is not liable to tax.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 December 2013 rohit bhai,

by taking cash you evade tax not avoid it!
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