Nine O Six

Yes, even if your property is vacant and you have not earned any rent, it is still considered as a property that can generate taxable income under the head "Income from House Property".As per the I...

To calculate House Rent Allowance (HRA) for exemption, the lower of the following three amounts is considered: Actual HRA received50% (For metro cities)/40% (For others) of Salary*Rent Paid less 10...

To claim House Rent Allowance (HRA) in India, individuals typically need to submit certain documents to their employers. The specific requirements may vary, but the following documents are commonly...

Yes, you can claim tax benefits on the interest paid for an education loan under Section 80E of the Income Tax Act, 1961 in India. This deduction is available to individuals who have taken an educa...

​No, Payments made by a partnership firm to its partners as interest are exempted from TDS liability under Section 194A.​​

Certainly! You're allowed to claim exemptions under sections 54, 54EC, and 54EE together. You have to start by utilizing the exemption under section 54 since it doesn't have a maximum limit. Once y...

​Annual value of a house property is the notional rental income that a property is expected to generate in a year, as determined by the tax authorities. It is the potential income that the property...

JSON is a file format commonly used in computer programming to organize and exchange data between different software systems. However, when it comes to income tax return it focuses on the standard ...

No, you cannot claim benefits under section 54, 54EC, 54F simultaneously. A person can claim exemption under section 54EC and 54 or 54F but not both at the same time.​

Yes, you can claim the deduction of interest paid on a loan taken from friends and relatives, as the source of the loan is irrelevant for claiming the deduction of Housing Loan interest; thus, you ...