Income from houseproperty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2012
Sir
I am a senior citizen. I have house property with 2 floors 2nd floor is let out to bank at a monthly rent of Rs.38000. I took a loan from bank for Rs.30,00,000 @ 15% interest p.a. Bank officials asking TDS Form 16. But according to Income from house property I am not a tax payer
Gross Annual Value 38000*12 456000
Muncipal taxes 30000
Neat Annual Value 426000
- Standard Decution30% 127800
Interest on borrowed Cap450000 577800
LOSS FROM HOUSE PROPERTY - 121800
SO I HAVE NOT INCOME. IS IT NECESSITY TO GIVE 16A. THEY ARE DEDUCTING TAX BUT I AM NOT A TAXABLE ASSESSE.
GIVE SUGGESTION TO ME FOR NOT DEDUCTING TAX BY THE BANK. IS THERE ANY ALTERNATIVE PROCEDURE. PLEASE GIVE SUGGESTION. I AM EAGERLY AWAITING FOR YOUR RESPONSE
I am a senior citizen. I have house property with 2 floors 2nd floor is let out to bank at a monthly rent of Rs.38000. I took a loan from bank for Rs.30,00,000 @ 15% interest p.a. Bank officials asking TDS Form 16. But according to Income from house property I am not a tax payer
Gross Annual Value 38000*12 456000
Muncipal taxes 30000
Neat Annual Value 426000
- Standard Decution30% 127800
Interest on borrowed Cap450000 577800
LOSS FROM HOUSE PROPERTY - 121800
SO I HAVE NOT INCOME. IS IT NECESSITY TO GIVE 16A. THEY ARE DEDUCTING TAX BUT I AM NOT A TAXABLE ASSESSE.
GIVE SUGGESTION TO ME FOR NOT DEDUCTING TAX BY THE BANK. IS THERE ANY ALTERNATIVE PROCEDURE. PLEASE GIVE SUGGESTION. I AM EAGERLY AWAITING FOR YOUR RESPONSE
19 December 2012
Apply in form 13 to assessing officer requesting to issue certificate for deduction of tax at lower rate. Submit certificate to bank.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Import license renewal
- 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
