If you have rental income and pay property tax of that building to the Punjab government every year, can you adjust that property tax against your rental income when filing your tax return? Some RUclipsrs suggest it might be possible. Can you explain this in detail?
Tax year 2022 ki return file kertey hove 2 income 1 salary income 2 rental income , salary income per proper tax oor rental per bhi proper tax deduction hey.. Jab dono income put kerty hein to iris inko combine ker key tax slab change ker deta hay oor demand nikal raha hey .. Kia kiya jaey ..please suggest
very informative and beneficial for me i need to clear one more thing i pay property tax to provincial govt on rent is tax credit available for me in income tax thanks
Thank you for video information to file tax return. I added rent income 218000.00 and withholding tax deducted 35000.00 at code 64310056 in Final/Fixed/Minimum tab. Do I need to enter rent income 218000.00 in reconciliation tab at code 7031 income declared as per return for the year subject to normal tax. Please give your advice.
Dear , How to enter the 2 different rental incomes. Let's suppose, a person earning 4 lac and 6 lac from different rental sources and both organizations deduct advance tax under 155. Now, a person wants to return a tax file but Property income got one column for rental income, so if a person put 10 lac instead of 6 lac and 4 lac, as a year's income. so tax rates would be definitely different according to tax cards. What could be the solution??
As we are paying tax on residential property annually if more then one property say three properties, two flats and one house, is tax is also due on total fbr cost of property?? Strange plz advise.
Return submitted to kr lia pr ab aik naya masla araha h jb 1000 Wala challan banty h tu jaha pay CNC no select kr k CNC dalty ha to na koi name ata h or na koi or data show hota h
Bro, Well explainded. Just 1 cheez clear kr dain. jo govt employee ko house hiring milti ha wo kahan enter krni. agar aap rent k makan pe rehte hian aur hire aap ne makan malik k name pe kraya hua ha.
Dear, if an employee is on self hiring; receiving the rent of his own house, then there are two types of income, (1) Salary (2) House rent In this case how to calculate tax. Assume annual salary 12 lac , house rent 5 lac thanks
Aoa. Sir, being govt employee hiring amount 455499 per tax 5% k hisab se 7775 banta ha 3 lac minus kr k. Lekin iris 38000 ka admitted tax bana deta ha. Please clarify.
*_Quuestion_* Clearification in respect of Rental income : Gross Rental income is Rs. 636000/- Less 1/5th Repair and Maintenance Allowance Rs. 127200/- Taxable Income 508800/- tax on which 10440/- but Create demand 5440/- instead of 10440/- , kindly guide me how much we pay tax. 10440/- or 5440/- *_Answer_* The system has rightly calculated the tax at Rs. 5,440/- as per "business slab" The slab / rate of tax you are trying to apply (for deriving tax at Rs. 10440/-) is only applicable for withholding tax u/s-155 (not for final discharge of liability). Earlier the rent was separate block of income to be taxed as per same rate / slab of tax applicable u/s-155, which scheme has now been abolished.
Sir, 4,80,000 per tex banta hai 480000-300000=180,000 5% of 1,80,000=9000, isi tarah 4,68,000 per tax banta hai 468000-300000=168000 5% of 168000 is 8400. Agar Hum Minus wali amount 300000 ke bajae 400000 karen to phir tax theek banta hai plz guide
Dear, if an employee is on self hiring; receiving the rent of his own house, then there are two types of income, (1) Salary (2) House rent In this case how to calculate tax. Assume annual salary 12 lac , house rent 5 lac thanks
If you have rental income and pay property tax of that building to the Punjab government every year, can you adjust that property tax against your rental income when filing your tax return? Some RUclipsrs suggest it might be possible. Can you explain this in detail?
Always a great experience to watch your videos
Tax year 2022 ki return file kertey hove 2 income 1 salary income 2 rental income , salary income per proper tax oor rental per bhi proper tax deduction hey.. Jab dono income put kerty hein to iris inko combine ker key tax slab change ker deta hay oor demand nikal raha hey .. Kia kiya jaey ..please suggest
Withholding tax say tax liability reduce kary ,,and previous year I refund say b
very informative and beneficial for me i need to clear one more thing i pay property tax to provincial govt on rent is tax credit available for me in income tax thanks
Should tax on hiring be paid by owner or employee
Thank you for video information to file tax return. I added rent income 218000.00 and withholding tax deducted 35000.00 at code 64310056 in Final/Fixed/Minimum tab.
Do I need to enter rent income 218000.00 in reconciliation tab at code 7031 income declared as per return for the year subject to normal tax. Please give your advice.
What is the treatment of security deposit received from tenant ?
Did they remove exemption of 2 lac , as I remember we have exemption of property tax under 2 lac.@legalversity please comment
How to adjust account balance if we mentio closing balance of June and then also cash in hand ?
Dear , How to enter the 2 different rental incomes. Let's suppose, a person earning 4 lac and 6 lac from different rental sources and both organizations deduct advance tax under 155. Now, a person wants to return a tax file but Property income got one column for rental income, so if a person put 10 lac instead of 6 lac and 4 lac, as a year's income. so tax rates would be definitely different according to tax cards. What could be the solution??
Dear brother declare it in their respective heads in one return.
advance againt rent 1/10 main wo put nahi kary gay?
Sir, some lawers apni viedos may ya bta rehy hain k property tex aduject hota hy rentel income may kia ya baat sehi hy please guide kr dain
236 C & K adjustable hota he bus.
Well Explained...👌
As we are paying tax on residential property annually if more then one property say three properties, two flats and one house, is tax is also due on total fbr cost of property?? Strange plz advise.
Not cost of property
@@mytaxpk Thanks Dear Brother 🌹🌹
Return submitted to kr lia pr ab aik naya masla araha h jb 1000 Wala challan banty h tu jaha pay CNC no select kr k CNC dalty ha to na koi name ata h or na koi or data show hota h
Website main koi problem ho ga nahi to wese to show hota hai
I have learned this from your video.
Bro, Well explainded. Just 1 cheez clear kr dain. jo govt employee ko house hiring milti ha wo kahan enter krni. agar aap rent k makan pe rehte hian aur hire aap ne makan malik k name pe kraya hua ha.
Self hiring me income club hojay gi ,,jb k general hiring me check owner k name bnta he ,,ap ko enter krny ki zarorat nai
Dear, if an employee is on self hiring; receiving the rent of his own house, then there are two types of income, (1) Salary (2) House rent
In this case how to calculate tax.
Assume annual salary 12 lac , house rent 5 lac
thanks
same question, did you get any solution
Waiting.....
Self hiring b income hogi or club hokar tax bnay gi ,,
Aoa. Sir, being govt employee hiring amount 455499 per tax 5% k hisab se 7775 banta ha 3 lac minus kr k. Lekin iris 38000 ka admitted tax bana deta ha. Please clarify.
*_Quuestion_*
Clearification in respect of Rental income : Gross Rental income is Rs. 636000/- Less 1/5th Repair and Maintenance Allowance Rs. 127200/- Taxable Income 508800/- tax on which 10440/- but Create demand 5440/- instead of 10440/- , kindly guide me how much we pay tax.
10440/- or 5440/-
*_Answer_*
The system has rightly calculated the tax at Rs. 5,440/- as per "business slab"
The slab / rate of tax you are trying to apply (for deriving tax at Rs. 10440/-) is only applicable for withholding tax u/s-155 (not for final discharge of liability).
Earlier the rent was separate block of income to be taxed as per same rate / slab of tax applicable u/s-155, which scheme has now been abolished.
@@nasrullahmand425 👍
@@PrinceAbdulRehman well said
Bhai mera 264000 rent income hai, tax kasy karna?
Brother 3 lac tk rent income hai pr کہان treet ho gi kis code ma?
Dear brother jahan is video men bataya gaya he.
@@Legalversity brother Rent from sub lease of land r building code 5005 kis leay h?
Sir please agriculture income tax return to upload krain please
Agriculture Income is exempt from tac
Sir, 4,80,000 per tex banta hai 480000-300000=180,000 5% of 1,80,000=9000, isi tarah 4,68,000 per tax banta hai 468000-300000=168000 5% of 168000 is 8400. Agar Hum Minus wali amount 300000 ke bajae 400000 karen to phir tax theek banta hai plz guide
Dear brother ap apni income lilhen jo tax fbr banaye ga wohi acceptable hoga. Lehaza apki calculations men mistake ho sakti he.
Bhai 250000 py woh 10000 bna raha tu ap kasy 6 lac py 4000 dikha rahy
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aslam o alikam sir kindy apna contact number de ap se baat krne hai possible hai
Dear brother contact us on our Facebook or Instagram pages.
Dear, if an employee is on self hiring; receiving the rent of his own house, then there are two types of income, (1) Salary (2) House rent
In this case how to calculate tax.
Assume annual salary 12 lac , house rent 5 lac
thanks
Salary waly section men salary ko treat kren and retnal income ko jesy is video men btya he us hisab sy enter kr k tax calcuate kren.
@@Legalversity Thanks
Boss i have come to known to that now rental income is clubbed with salary income..is it true??
@@nasirnaeem6063 dear not in 2022 tax year.
You mean tax on rental income is now calculated on separate rental income slabs??