1. Income from house property is taxed under section 22 if the property is owned, consists of buildings or land, and is not used for business purposes.
2. Gross annual value is the standard to assess income and is the higher of expected rent and actual rent received less vacancy.
3. Deductions include municipal taxes paid, standard deduction of 30% of net annual value, and interest on borrowed capital. Income from self-occupied property allows deduction of interest up to Rs. 1.5 lakh.
Objectives & Agenda :
One of the heads of income under the Income Tax Act is Income from House Property. Under this head, incomes earned from house properties are chargeable to tax. The webinar covers the aspects of basis of charging income to tax under this head, nature of house properties taxed under the Act, manner of computing income chargeable to tax under this head, deductions available under this head and eventually judicial precedents pertaining to this head of income.
Objectives & Agenda :
One of the heads of income under the Income Tax Act is Income from House Property. Under this head, incomes earned from house properties are chargeable to tax. The webinar covers the aspects of basis of charging income to tax under this head, nature of house properties taxed under the Act, manner of computing income chargeable to tax under this head, deductions available under this head and eventually judicial precedents pertaining to this head of income.
Income Tax Act 1961
Capital Gain, Basis of Charge, Capital Asset U/s 2(14) Income Tax Act, Transactions that do not constitute TRANSFER U/s 47, Types of Capital Assets, Computation of STCG, Computation of LTCG, Tax Exemption for Capital Gain.
Presentation on computation of profits and gains of business and profession for the benefit of taxation students, based B. Com Taxation syllabus of Goa University .
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
Helps the student to know about the Agricultural Income in Indian Income tax Act 1961 and also how the Tax Liability will be calculated when an Assessee have both Agricultural and Non Agricultural Income
Presentation on computation of income from house property for the benefit of students of Income tax. Useful material for undergraduate students of commerce faculty. It covers most of the important section of Income tax act applicable for computation of Income from house Property.
Income Tax Act 1961
Capital Gain, Basis of Charge, Capital Asset U/s 2(14) Income Tax Act, Transactions that do not constitute TRANSFER U/s 47, Types of Capital Assets, Computation of STCG, Computation of LTCG, Tax Exemption for Capital Gain.
Presentation on computation of profits and gains of business and profession for the benefit of taxation students, based B. Com Taxation syllabus of Goa University .
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
Helps the student to know about the Agricultural Income in Indian Income tax Act 1961 and also how the Tax Liability will be calculated when an Assessee have both Agricultural and Non Agricultural Income
Presentation on computation of income from house property for the benefit of students of Income tax. Useful material for undergraduate students of commerce faculty. It covers most of the important section of Income tax act applicable for computation of Income from house Property.
The Income Tax Act of India categorizes income into five different heads and income from house property is one of them. The rent that is received from any property is taxable under income from house property.
Income from House property explained in detail. One of these heads is “Income from House property”. The income earned by the ownership of a property is said to be Income from House property. If a taxpayer owns a house property and rents it, the rent received from that property is taxable. Your house, building, office, or shop can be termed as house property All types of properties are taxed under the head 'income from house property' in the income tax return.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
2. Basis of charge is Sec 22 Income is taxable under the head “ Income from House property” if the following three conditions are satisfied: a. Property should consist of any buildings or lands appurtenant thereto. b. Assessee should be owner of the property. c. Property should not be used by the owner for the purpose of any business or profession carried on by him, the profits of which are chargeable to income tax
3. illustrations 1. X owns a building and it is given on rent. Income of the property is taxable under the head “ Income from house property” as all the three conditions are satisfied. Y owns a building and it is used by him for carrying on a business or he uses the building as his office/factory/godown. In this case, no income is taxable under the head “ Income from house property” as third condition is not satisfied.
4.
5. “Owner” includes a legal owner as well as deemed owner. “Owner” may be an individual, HUF, firm, company, society or AoP
6.
7. Mr.Y gifts Rs. 15 Lakhs to Mrs.Y and she purchases a house property out of the gifted money. In this case, Mr. Y will not be deemed as “owner” of the property because he has not transferred a house property. Consequently, income from property would be computed in the hands of Mrs.Y
8. Mr.Y gifts Rs. 15 Lakhs to Mrs.Y and she purchases a house property out of the gifted money. In this case, Mr. Y will not be deemed as “owner” of the property because he has not transferred a house property. Consequently, income from property would be computed in the hands of Mrs.Y 3. Rental income from a vacant plot is not chargeable to tax under the head “Income from house property” but is taxable under income from other sources.
9. In the following cases, rental income is not charged to tax Income from farm house Annual value of any one palace of an Ex-ruler Property income of c. a local authority. d. an approved scientific research association. e. an educational institution and hospital. a trade union. a charitable institution. a political party. one self occupied property.
10. Basis of computing income from a let out house property Gross Annual Value - XXXXXX Less : Municipal taxes - xxxxxx Net Annual value - xxxxxx Less : Deduction u/s 24 Standard Deduction - xxxxx Interest on borrowed capital - xxxxxx Income from House property - xxxxx
11. Gross Annual Value : Tax under the head “Income from house property” is not a tax upon rent of a property. It is tax on inherent capacity of a building to yield income. The standard selected as a measure of the income to be taxed is “ Gross Annual Value ”
12. Determination of Gross Annual Value : Step 1 : Find out reasonable expected rent of property. Step 2 : Find out rent actually received or receivable after excluding unrealised rent. Step 3 : Find out higher amount in Step -1 or Step-2. Step 4 : Find out loss because of vacancy. Step 5 : Step 3 minus Step 4 is Gross Annual Value
13. Step 1 : Reasonable expected rent of property The higher amount of Municipal valuation(MV) and Fair Rent of property (FR), subject to maximum of Standard Rent (SR) is reasonable expected rent of property.
15. Step 2 : Find out rent actually received or receivable after excluding unrealised rent. Rent of the previous year( or part of the previous year) for which the property is available for letting out - Rs.xxxxxx Less : Unrealised rent if a few conditions - Rs.xxxxxx are satisfied Rent received or receivable before - Rs.xxxxxx deducting loss due to vacancy
16. When unrealised rent shall be excluded : Unrealised rent( which the owner could not realise) shall be excluded only if the following conditions are satisfied. 1. The tenancy is bonafide. 2. The defaulting tenant has vacated or steps have been taken to compel him to vacate the property. 3. The defaulting tenant is not occupying any other property of the assessee. 4. The assessee has taken all reasonable steps to institute legal proceedings for the recovery of the unpaid rent
17. A, B, C, D , E separately own the following properties. Find out Gross annual value for AY 2010 – ’11 ( Amount in Rs. Thousands) ParticularsABCDE MV 105 105 105 105 105 FR 107 107 107 107 107 SR NA 88 88 135 135 Actual Rent 103 112 86 114 97 Unrealised Rent 1 2 1 2 1 (conditions are satisfied)
19. X,Y,Z separately own the following properties. Find out Gross annual value for AY 2010 – ’11 ( Amount in Rs. Thousands) ParticularsXYZ MV 95 60 60 FR 96 54 55 SR 94 78 79 Actual Rent 93 106 78 Unrealised Rent nil nilnil
20. Find out Gross annual value for AY 2011 – ’12 ( Amount in Rs.) ParticularsXY MV 61,000 61,000 FR 1,08,000 30,000 SR 60,000 60,000 Rent received From Tenant 1 (1.4.10 to 30.6.10 ) 5000 P.M 2000 P.M. From Tenant 2 (1.7.10 to 31.12.10) 9000 P.M. 2500 P.M, Period when the property Remains unoccupied 1.1.11 to 31.3.11 1.1.11 to 31.3.11 Actual rent receivable 96,000 28,500 Loss due to vacancy 27,000 7,500
21. Deduct Municipal taxes 1. From the Gross Annual Value computed, deduct municipal taxes(incl. Service taxes) levied by any local authority in respect of the house property. 2. Municipal taxes are deductible only if a) these taxes are borne by the owner and b) these are actually paid by the owner during the previous year
22. Deduction u/s 24 1. Standard Deduction 30 % of net annual value is deductible irrespective of any expenditure incurred by the tax payer. 2. Interest on borrowed capital is allowable as deduction, if capital is borrowed for the purpose of purchase, construction, repair, renewal or reconstruction of the property. 3. Interest on borrowed capital is deductible fully without any maximum ceiling( in the case of a let out property)
23. Find out Income from property chargeable to tax for AY 2011 – ’12 in the following cases. ( Amount in Rs.) ParticularsHouse AHouse B MV 1,20,000 1,20,000 FR 1,30,000 1,30,000 SR 1,10,000 1,10,000 Actual Rent 1,26,000 1,26,000 Unrealised Rent 10,500 NIL Loss due to vacancy 10,500 NIL Municipal taxes Paid by owner (FY 2010-11) 18000 NIL Paid by owner (FY 2011-12) NIL 7000 Paid by tenants (FY 2010-11) NIL 9000 Interest on borrowed capital 25000 15000
24. How to compute taxable income from self occupied property Gross Annual Value Nil Less : Municipal Taxes Nil Net Annual Value Nil Less: Deduction u/s 24 Standard deduction Nil Interest on borrowed capital xxxxx Income from one self occupied property xxxxx
25. Interest on borrowed capital( self occupied property) 1. If the capital is borrowed on or after April 1,1999 for acquiring or constructing a property, interest on borrowed capital is deductible upto Rs. 1.5 Lakhs 2. If the capital is borrowed on or before April 1,1999, interest on borrowed capital is deductible upto Rs.30,000. 3. If the capital is borrowed on or after April 1, 1999 for reconstruction, repairs , interest on borrowed capital is deductible upto Rs.30,000
26. Mr. X owns a house property and it is used by him throughout the previous year 2010 – 11 for his residence. M.V = Rs.1,66,000 , F.R= Rs.1,76,000 S.R = Rs.1,50,000 Expenses : Repairs = Rs.20,000, M.Tax = Rs.16,000 Insurance = Rs.2000 Interest on borrowed capital to construct property = Rs.1,36,000 ( Capital borrowed on 25.7.2005) Income of Mr.X from business is Rs.7,10,000 Find out net income of Mr.X for AY 2011 – 12.
27. Computation of taxable income of Mr.X Gross Annual Value Nil Less : Municipal Taxes Nil Net Annual Value Nil Less: Deduction u/s 24 Standard deduction Nil Interest on borrowed capital (1,36,000) Income from one self occupied property (1,36,000) Income from Business 7,10,000 Total Net Income 5,74,000
28. WHEN A PROPERTY IS SELF OCCUPIED AND A PART IS LET OUT Mr. X owns a house property. It has two equal residential units – Unit 1 and Unit 2 Unit 1 is self occupied by Mr.X for residential purpose, Unit-2 is let out( Rent = Rs.6000 per month, rent of 2 months could not be recovered) M.V = Rs.1,30,000 , F.R= Rs.1,40,000 S.R = Rs.1,25,000 Municipal tax is imposed @ 12% which is paid by Mr.X. Other expenses for the previous year 2010 – 11 : Repairs = Rs.2500, Insurance = Rs.6000, Int. on borrowed capital for constructing the property = Rs.63000 ( borrowed during the year 1998) Income from other sources of Mr.X = Rs.500000 Find the income of Mr.X for AY 2011 - 12