07-04-2011, 09:38 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Muhammad Rehman</i>
<br />it is requested that how much tax deducted if rent give is give in month of Feb-20011 amounting Rs. 30,000 as the closing financial year 30 June please if possible reference of section
Regard!
Muhammad rehman
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
As per Section 15 and Division VI of part 1 of first schedule of ITO 2001. not Tax is payable if rental income is below 150,000 if the landlord whose tax is required to be deducted is first ever month rent (newly constructed property)then no tax is required to deduct as his income is Rs. 150,000 (from Feb to Jun.)[this all is for individual.
<br />it is requested that how much tax deducted if rent give is give in month of Feb-20011 amounting Rs. 30,000 as the closing financial year 30 June please if possible reference of section
Regard!
Muhammad rehman
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
As per Section 15 and Division VI of part 1 of first schedule of ITO 2001. not Tax is payable if rental income is below 150,000 if the landlord whose tax is required to be deducted is first ever month rent (newly constructed property)then no tax is required to deduct as his income is Rs. 150,000 (from Feb to Jun.)[this all is for individual.
