Owner is going abroad and wants to give the power to rent out the property and collecting the rent of his property to his brother. can anyone send the format of power of attorney for this purpose.
we are a deemed limited company We have purchased a flat in Hebbal and have furnished it with furniture, fixtures and fittings. We have given it on a rent for a another limited company for 11 months agreement. We get a rental income of Rs 35000 per month. do we have to pay service tax on rental
of fully furnished flat to the government. We have not registered with service tax. Please clarify.
Is 50% of monthly rent fine?
My parents (who live in Mumbai right now) plan to relocate to a place outside Maharashtra. They plan to give their Mumbai residence on rent and live in a rented house as their new residence in the new place? They are both senior citens. Would they be required to pay tax on their rental income they earn in Mumbai?
Giving property on rent,means loosing the property for small return.If the property is vacant,sell it away,instead of inviting troubles from tenant.
Almost all the laws made in India are mostly in favour of selfish, coward and cunning people,rather than in favour of honest,sincere and law abiding people.
what is safe advise ? rent or sell the premises
The new income tax Circular No– 05/2011 requires one to produce the PAN card of the landlord if the rent paid for the year exceeds Rs.180000. If the landlord doesn’t have a PAN card one should get a written declaration from him that his income is below the taxable income.
Will they be conducting checks? It seems they have implemented this rule due to the increase in the number of people producing false rental receipts. Naturally, I’m one of them and so I’m afraid.
House property was purchased by me out of my money but conveyance deed was got executed in both names. Wife is a PAN card holder and files independent IT returns.Presently, I am showing rental income completely in my name and paying 30% tax on it.
I have recently moved to Chennai and got a job at Egmore. My husband has a job on OMR in IT so we are just finding which area would be convenient around Egmore for rental property so that I can commute within half an hour and he can also catch train or bus and can reach OMR in an hour.
i have to let out my properties for rent at chennai, where can i post my free ads? any authentic sites?
My flat is in Kanpur, purchased in 1999, right now i am looking for a second property, to claim income tax rebate 9interest component) for the second house also, i need to show rental value of one house in my income( despite being self occupied). there fore i am looking for the answer where can i find the official value of rental assessment of house.