G
Gaurav
I have two shops. These shops have a gross annual value of 2.4L each. Are these shops tax exempt as the GAV is below 2.5 L per annum or do I need to pay taxes because in total the gross annual rent is 4.8 L?
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Dear Gaurav,
Tax is payable on the basis of total Income of an assessee. Total Income means Income from all sources. So to ascertain whether tax payable or not we have to know you total income then only will be able to consult you.
If you toal income is Rs. 4.80 Lacs then tax liability will be NIL however you are required to File ITR.
For Further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.
A
Adil
I incorporated my private limited company in 2019 and now want to open its Bank account in hdfc bank but bank requires challan receipt of Dir 12 form but my CA didn't filed Dir 12 form. What to do now?
You can file with additional fees to ROC. If you require any information please call 7338838605/kna3350@gmail.com
T&C applyA
Adil
I incorporated my private limited company in 2019 and now want to open its Bank account in hdfc bank but bank requires challan receipt of Dir 12 form but my CA didn't filed Dir 12 form. What to do now?
P
Parth Mahida
I live in a house own by my sister, How much rent I can pay her just to get tax exemption?
I live in a non-metro city. Actual rent for my house is about 10000.
G
Gaurav
I have two shops which I will start renting. I am also a government employee with a gross salary of 13.2 L per annum. What are the additional tax amounts that I should pay when I start renting the shops. Is there any GST involved?
If your rental income exceed Rs.20 lacs in a year GST is applicable.
T&C apply
