tax on Rent - Printable Version

tax on Rent - Printable Version

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+--- Thread: tax on Rent (/thread-tax-on-rent)

tax on Rent - zara khan - 02-01-2011

please help me out in caculating in correct tax on rent.
if lessee paid one year rent on premises and same deducted tax.If lessee is aquired another portion of same building.what will be exact tax.

either we recalculate rent with addition then compute tax or just additional amount will be compute for tax

- Kasim - 02-01-2011

App ki BCBS clear hay?

- LapTop - 02-02-2011

Agar Landlord 1 hi hay dono premises ka to tax recalculate ho ga dono premises k rent ko add kar k, jo tax pahly withheld kiya hay usy less kar k jo amount bachay wo withheld kar layn.

- faisal_desperado - 02-02-2011

Dear,

You may select any method of your choice, since in both cases, there will have no differentiation in tax outlay. Whether you pay the tax on whole amount by clubbing the two separate amounts or pay the tax individually on the two amounts.

Let me know if confusion is yet to be clarified.

Best Regards,

Faisal.

- faisal_desperado - 02-02-2011

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by LapTop
 Agar Landlord 1 hi hay dono premises ka to tax recalculate ho ga dono premises k rent ko add kar k, jo tax pahly withheld kiya hay usy less kar k jo amount bachay wo withheld kar layn.
<hr height="1" noshade id="quote"></blockquote id="quote">

Zara,

In addition to my earlier response, Laptop's answer is also required to be considered.

Regards,

- bilalfca - 02-18-2011

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by faisal_desperado
 Dear,

You may select any method of your choice, since in both cases, there will have no differentiation in tax outlay. Whether you pay the tax on whole amount by clubbing the two separate amounts or pay the tax individually on the two amounts.

Let me know if confusion is yet to be clarified.

Best Regards,

Faisal.
<hr height="1" noshade id="quote"></blockquote id="quote">

Dear Faisal,
i've a question

agr hum rent separately calculate karain ge to prob nhn ho gi?
if the rent for the original comtract is 120,000 Rs. p.a and Landlord is an individual.
the rent for the other portion of building is, say, 60,000 Rs. p.a
if we want to calculate the tax, will the Individual not be exempted from tax?
whether tax will be withhold by the tenant in this case (on the basis of separate calculation)

m confused!
help me....
Regards.

- faisal_desperado - 02-18-2011

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by bilalfca
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by faisal_desperado
 Dear,

You may select any method of your choice, since in both cases, there will have no differentiation in tax outlay. Whether you pay the tax on whole amount by clubbing the two separate amounts or pay the tax individually on the two amounts.

Let me know if confusion is yet to be clarified.

Best Regards,

Faisal.
<hr height="1" noshade id="quote"></blockquote id="quote">

Dear Faisal,
i've a question

agr hum rent separately calculate karain ge to prob nhn ho gi?
if the rent for the original comtract is 120,000 Rs. p.a and Landlord is an individual.
the rent for the other portion of building is, say, 60,000 Rs. p.a
if we want to calculate the tax, will the Individual not be exempted from tax?
whether tax will be withhold by the tenant in this case (on the basis of separate calculation)

m confused!
help me....
Regards.
<hr height="1" noshade id="quote"></blockquote id="quote">

Dear,

I replied the query in some other context, while you have observed the other aspect of my reply, which is altogether a seperate issue.

Let me clarify confusions in your query at the outset that;

Individual can not withhold tax, as individual is not a prescribed person, and querier of the query said that "tax was deducted"(i.e. Withheld, which i presumed, while replied, that tax was withheld by prescribed person; since she was not clear in her query).

I further assumed that lessor is same in both cases, so i agreed to Laptop in my next reply.

As far as your query is concerned;
Rs. 6,000 will be withheld on initial 120,000* and Rs. 3,000 will have to be withheld on subsequent 60,000.
Total tax will be 9,000, whether it is calculated on total amount of 180,000 or separately.

*Only if lessor is a company, since 120,000 is within exemption limit for individuals/AOPs, so tax will not be paid, however, as soon as the fair market rent exceeds the exemption limit of Rs. 150,000, tax will have to be paid on subsequent amount i.e. after exemption limit ceases.

I hope things have been quite clear now.

Best Regards,

Faisal.

- danishayub_76 - 03-01-2011

Dear Brother!

IF the landlord is not one person but two different persons. Then what will be the solution. For example

1st 6 months @ Rs.40000 per month Landlord A. (July to Dec)
2nd 6 months @ 45000 per month Landlord B. (Jan to June)

In first case we will deduct Rs.1375/- per month. then after shifting/moving to new location what will be the calculation.

Best regards

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by faisal_desperado
 Dear,

You may select any method of your choice, since in both cases, there will have no differentiation in tax outlay. Whether you pay the tax on whole amount by clubbing the two separate amounts or pay the tax individually on the two amounts.

Let me know if confusion is yet to be clarified.

Best Regards,

Faisal.
<hr height="1" noshade id="quote"></blockquote id="quote">

- LapTop - 03-01-2011

http//www.2shared.com/document/M9AK-rxF/Tax_Calculator_for_Property_In.html

- olympia - 03-02-2011

gud job laptop )