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Expert answers income tax queries from ET readers
The gift given to son or daughter by you will not be taxable in their hands. There is no limit to the amount which you can gift to your son or daughter.
10 dos and don'ts to ensure your claim of HRA tax exemption against rent paid is not rejected
What you must remember while claiming tax exemp...
Why you should think twice before investing for rental income
It is not uncommon for investors to treat rent as an important source of income...
These mutual fund schemes can help retirees earn regular monthly income
As you want a regular monthly income, capital protection and income certainty, you may invest the lump sum in short-term debt funds and opt for systematic withdrawal plans.
Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
Every week, an expert selected by ET answers queries from our readers on income tax and other levies. This week, the queries include the tax liability on the proceeds from the sale of the flat, etc.
Five probable reasons for income tax scrutiny
High value transactions related to real estate or done via credit card in a particular year could be a cause for scrutiny.
No Form 16 yet? You can still file your income tax returns
With the tax-filing deadline closing in and no sign of Form 16 yet, it is best to gather all your documents, calculate your liability and file returns.
Commercial rental income beyond Rs 20 lakh to attract GST, says Hasmukh Adhia
Adhia also said that if the house property is rent out for shop or office purpose, no Goods and Service Tax (GST) will be levied up to Rs 20 lakh.
Tax optimizer: Salaried Ghosh should use NPS, home loan to save more tax
Ghosh can save nearly Rs 74,000 in tax if he avails of the NPS benefit offered by his company, invests in the pension scheme on his own and takes a home loan.
How NRIs can avoid tax troubles
The tax rules for NRIs are quite different from those that apply to resident citizens and are subject to very elaborate tax reporting.
No GST on residential property rental income but housing cost surge may push up rents: Experts
The rental income from residential properties used for residential purposes would continue to be exempted even under the GST regime.
DLF's annual rental income to rise 12% at Rs 2,900 crore in FY18
Realty major DLF's total rental income will rise by 12 per cent to about Rs 2,900 crore this fiscal on better realisation from existing commercial assets and addition of new properties in Chennai and Delhi.
Are ancestral jewellery, property gifts taxable?
ET tries to answer this week's tax-related queries with the help of Dilip Lakhani, Senior Chartered Accountant.
Realty Queries: PMAY changes give boost to affordable housing
Anuj Puri Chairman, Anarock Property Consultants answers queries from our readers on real estate.
Budget 2016: Additional surcharge on Rs 1 crore income to increase tax outflow by almost Rs 1 lakh
FM has increased the surcharge on income above Rs 1 crore, from 12% to 15%. This means that the super-rich would pay approximately 1% more tax as their effective tax rate increases from 34.6% to 35.6%.