Rental income from letting of floor to bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2013
Dear all,
My husband has a premises which is to be let out to bank. income arising therefrom is taxable with his income. He is a salaried employee and of now he gets taxed in the 30% bracket. The TDS on this income will be deducted at 10%. Effectively, he will be liable to pay additionally 20%. is there any way by which he can reduce the tax burden. Is gift in my name (wife) possible only for that floor or any other possibilities. Please guide.
My husband has a premises which is to be let out to bank. income arising therefrom is taxable with his income. He is a salaried employee and of now he gets taxed in the 30% bracket. The TDS on this income will be deducted at 10%. Effectively, he will be liable to pay additionally 20%. is there any way by which he can reduce the tax burden. Is gift in my name (wife) possible only for that floor or any other possibilities. Please guide.
12 July 2013
clubbing provision will apply on transfer.so not much difference.but a solution if u have a major son/daughter.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- 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
