Owner of the property is more that one i.e. 6 people are owner of the one property. The collectively received rent above 8 lakhs for a year i.e Rs. 12 Lakhs. Out of that Individual received Rs. 2 Lakhs per year. Whether Individual liable to pay service tax on Rs. 2 Lakhs for a year?
i m giving some amount to my son (age above 19) on weekly basis as pocket money. Son invests that amount in bank FDs and earns interest on it. i would like to know to whose total income the interest earnings will be added for tax purpose…?
should pension received be included in the total income for tax calculation in the year 2010-2011
Just wanted to know if i start a business by taking loans from bank and if my business profit is less than my loan repayment dues, how much will be my tax liability as per Indian law?
My friends made some big transactions using my credit card. Am I liable for any taxation due to this? Is there a tax levied on based on credit card transactions?