Archive for the ‘India’ Category
Hi Tax Guru’s,
I am having some dobut for Tax liability in case I am availing the House on Company Lease Agreement.
I am getting HRA of Rs. 10068/- , basic is Rs. 16780/- and I had taken house on Company Lease of Rs. 8500/-.
My company is deducting the amount Rs. 8500/- from my salary and sending it to my landlord. And giving me rest of the difference amount. But my company is saying this amount of Rs. 8500/- is fully taxable.
Please clarify me how much amount is taxable and is there any way I can claim this amount while filing the IT return.
Please take out some time and send your resposne.
Regards,
Sanjeev Kumar
New Delhi
A)CAN I GET INCOME-TAX FREE ON INCOME YIELD ON AGRICULTURE LEASE LAND FROM ANY FARMER FOR ABOUT 5YRS
B)CAN I GET INCOME TAX –FREE ON CROP YIELD ON NON AGRICULUTRE LAND
WHICH IS NEAR TO VILLAGE HAVING POPULATION LESS THEN 5000 PERSONS AND
OUTSIDE MUNICIPALITYAREA.
C)CAN I GET INCOME TAX –FREE ON CROP YIELD ON MY HOUSE GARDERN LIKE CHANDAN TREE AND ON TARRACE IF I PLANT VEGETABLES. IN WHICH DEPARTMENT I SHOULD INFORM ABOUT TREES GROWN IN HOME FOR RECEORD NEED AT THE TIME TO SALE
D)IS CONTRACT FARMING TAX –FREE