Sir , i'm Employed in PSU .i'm staying with my parents .i'm a coapplicant for the loan taken by my parents to construct the house.we dont have any income from this house as it is self occupied.i ud like to know under what act/rule i'm eligible for tax rebate if eligible for the interst and principle i'm paying towards the loan .
Hi i am a housewife and i have paying guests. I want to add the rent paid by him in my income foe income tax returns. What proofs do i have to submit if any.
I gifted my son a personalised coffee mug but on the charges i paid on the internet, i was charged Gift tax in addition to the courier charges and the product price. Is the levying of Gift Tax correct?
i am a software engineer, unmarried and staying with my parents. We are staying in a rented house (say house1). My parents purchased another rental property home(house2) on my mothers name. We gave the house2 for rent and we continued to stay in the current house1. We planned to purchase a house (for self, say house3) with a home equity loan, So my mother gave house2 as a 'gift deed' to me and i took a mortgage loan for purchasing house3. We purchased a house (house3) and registered on my mothers name. We were not able to move into the new house3, it took 5 months to move, and for that 5 months we still stayed in rented house1 by paying rent and the new house is kept vacant.
mortgage loan details: to get more loan amount, i included house2 rental income for loan processing with rental agreements. it is a joint loan. including my mother and father as secondary. but i have loan emi payements only on my bank account
key points a. house1 - rented house where we are staying b. house2 - rental property purchased on my mothers name and gifted to me. so, i am the solo owner. c. house3 - vacant house registered on my mothers name.
My queries: 1. Is it mandatory to have the property (house3) registered on my name? currently it is on my mothers name if it is mandatory, then is it possible to add my name (to make joint property) in the existing registration, what is the procedure for this? it should include me and my mother as property owners. I can h
My friend who will retire on 31 st May has worked for 10 years in saudi Arabia. Does the gratuty earned on retirement is taxable. We undestand that the graturt earned after working for 10 years is not taxable please advsie
The undersigned is working as DDO with a large municipality employing about 18000 employees. Some of the employees who have raised loan for the constructions of house claim that the house constructed by taking loan is lying vacant. They are either residing in the accommodation provided with the employer or some other house other than for which the loan has been raised. Without declaring rent/notional rent from the property constructed by taking loan, they are claiming rebate on the principal amount and also on interest. Can they claim like this? If without declaring income from house property (stated by them to lying vacant) they are eligible for rebate on the principal amount and also on interest? Please clarify at the earliest please.
Me & My wife are having a house in joint names also the agreement are in joint names but since she works in the bank & has taken staff housing loan (Rate of interest same as normal rate ) the bank deducts the EMI from her salary as it is their policy Can either one of us claim the Tax benefit.What is the way out.
