I am a govt doctor , I want to disclose my property to my employer. I need help.
Q1) should I disclose every furniture separately with separate price values,like sofa set,chair set, furniture shelves installed in living room and kitchen?
Q2)should I have to disclose marble floor installed (with price values )in my house last year, but house purchased 3 years back which has been previously disclosed to govt with price values.?
Q3)should I have to disclose a minor renovation done in my home costing about 50-70000 RS. ?
Q4)how do the income tax officer calculate the value of property I have occupied?
Q5) should I have to disclose type of celing fans fitted in my house or replaced any fan with new one
Q6) should I have to disclose values of my phone's ?if I sell one phone and purchase a new one then how to disclose that.
Q7) should I have to disclose a laptop bag worth rs4500?
You should only disclose your rental income from your property to your employer for tax purposes i.e. TDS and if you can consider your rental income in your return separately then you can skip this also.
All other things you will not require to disclose to your employer.
Let me know for what purpose you are disclosing your property?
CAclubindia
