The House rent exemption is giving a considerable tax relief to all of salaried employees at present. What is the conditions about HRA in the new direct tax code 2009? An Explanation will be very helpful to all of salaried persons.
a) Will I be liable to pay income tax on my short term gains in shares even if my total income remains below taxable limits.
b) must I file IT returns.
Do I have to pay (income) tax for having recd. part property through a Settlement Deed.
Stamp duty of Rs.10,000/- and Reg.charges of Rs.2,100/- already paid during time of settlement by my mother.
The property is in Chennai, Tamil Nadu.
Meaning she has one flat…she wants both her sons to have share…but doesn’t want to sell off the flat. So can one of the son buy the property at half value. what are the implications from stamp duty and income tax angle??
1/3 of the property is rented and am receiving a rent of 96 thousand per annum, 2/3 property bis under self occupation and the interest paid isx 2,12,000 per annum