DOUBLE TAX ON ONE INCOME
This query is : Resolved
21 March 2009
SITUATION
MR.K(EMPLOYEE) HAS BEEN EMPLOYED WITH IOC(EMPLOYER). MR.K IS A OWNER OF HOUSE PROPERTY.
THIS PROPERTY IS TAKEN ON A LEASE BY IOC ON APPIONTMENT AND SUBSEQUENTLY GIVEN BACK TO MR.K AS A RENT FREE ACCOMADTION.
NOW. THE PROBLEM IS THAT HERE MR.K IS BOUND TO PAY TAX ON HOUSE PROPERTY U/H THE IHP AND AS PREKS IN RULE 3(1) U/H SALARY.
PLEASE EXPLAIN WHAT IS TO BE DONE IN THIS CASE & IS THERE IS DOUBLE TAXATION?
MR.K(EMPLOYEE) HAS BEEN EMPLOYED WITH IOC(EMPLOYER). MR.K IS A OWNER OF HOUSE PROPERTY.
THIS PROPERTY IS TAKEN ON A LEASE BY IOC ON APPIONTMENT AND SUBSEQUENTLY GIVEN BACK TO MR.K AS A RENT FREE ACCOMADTION.
NOW. THE PROBLEM IS THAT HERE MR.K IS BOUND TO PAY TAX ON HOUSE PROPERTY U/H THE IHP AND AS PREKS IN RULE 3(1) U/H SALARY.
PLEASE EXPLAIN WHAT IS TO BE DONE IN THIS CASE & IS THERE IS DOUBLE TAXATION?
24 March 2009
It is not a double taxation as basis of charge is different.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- Applicability of Ind As to associate of associate
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- GST Regis.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
