Are appliances tax-deductible for rental property In general, appliances can be tax-deductible for rental property if they are considered necessary for the production of rental income. The cost of appliances can be claimed as a rental expense and deducted from the rental income. However, the specific tax rules regarding the deductibility of appliances can vary… Read More »
In what bases tax is collected by governments Governments collect taxes from individuals and businesses in various ways. Here are some of the most common point on bases tax is collected by governments: To visit: https://www.incometax.gov.in 1.Income: Income tax is collected on the income earned by individuals and businesses. The tax rate may vary depending… Read More »
Taxation of Income From House Property Taxation of income from House property comes Under the head “Income from house property,” any income earn by an individual from a house property that own by them charge to tax. This income includes the rent receive from the property, and also any income earned from a property that… Read More »
What is Section 24 of Income Tax Act? Section 24 of the Income Tax Act is relate to the deduction of interest on home loans for taxpayers who own a house property. The section provides for two types of deductions – a deduction of up to Rs. 2 lakh for interest paid on a self-occupied… Read More »
Tax planning for property Sale Tax planning for property sale, Capital gains tax: As an 80-year-old individual who is selling his own earn immovable property. May be liable to pay capital gains tax on the sale, depending on the specific details of the transaction. Capital gains tax is a tax levy on the profit earn… Read More »
Difference land revenue and Land Tax Difference land revenue and Land Tax, It’s distinct terms used in the realm of land ownership and taxation. Land revenues denotes the payment made by the landowner to the government for utilizing and occupying the land. It is a periodic payment remitted by the landowner to the… Read More »
