Yahoo India Web Search

Sign In

Search results

  1. cleartax.in › s › house-propertyIncome from House Property and Taxes - ClearTax

    Sep 17, 2024 · However, owning a house property comes with regulatory and tax compliances. Paying house property taxes annually is one of them. If you want to know how to save tax on home loan interest, this article is for you. It also talks about how to report home ownership in your income tax return.

    • Rental Income

      File Income Tax Returns online with ClearTax. ClearTax is...

  2. cleartax.in › s › which-itr-to-fileWhich ITR Should I File? Types of ITR Forms for FY 2023-24 ...

    • What Is Itr?
    • Why Should You File Itr?
    • Who Are Exempted from Filing Income Tax Returns?
    • Which ITR to file?
    • ITR-1 Or Sahaj
    • ITR-2
    • ITR-3
    • ITR 4 Or Sugam
    • ITR-5
    • ITR-6

    Income Tax Return(ITR) is a form in which the taxpayers file information about their income earned and tax applicable, to the income tax department. The department has notified 7 forms i.e. ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-7 to date. Every taxpayer should file his ITR on or before the specified due date. The applicability of ITR forms...

    See full list on cleartax.in

    If you want to claim an income tax refund from the department.
    If you have earned from or have invested in foreign assets during the FY.
    If you wish to apply for a visa or a loan
    If the taxpayer is a company or a firm, irrespective of profit or loss.

    See full list on cleartax.in

    Central government have the power to exempt specified class or classes of persons from filing income tax returns in addition to the existing exempt persons like individuals having total income less than the basic tax expedition limit, non-residents not having income accruing or arising from India etc. However, currently, there are no such exemption...

    See full list on cleartax.in

    The following infographic will help you find out which type of income taxreturn is applicable to you for FY 2023-24. Once you figure out which ITR you need, click on the links below to learn more about them.

    See full list on cleartax.in

    This Return Form is for a resident individualwhose total income for the AY 2024-25 includes: 1. Income from Salary/ Pension; or 2. Income from OneHouse Property(excluding cases where loss is brought forward from previous years); or 3. Income from Other Sources (excluding Winning from Lottery and Income from Race Horses) 4. Agricultural income up to...

    See full list on cleartax.in

    ITR-2 is for the use of an individual or a Hindu Undivided Family (HUF) whose total income for the AY 2024-25 includes: 1. Income from Salary/Pension 2. Income from House Property 3. Income from Other Sources (including Winnings from Lottery and Income from Race Horses) 4. If you are an Individual Director in a company 5. If you have had investment...

    See full list on cleartax.in

    The current ITR-3 Form is to be used by an individual or a Hindu Undivided Family who have income from a proprietary business or is carrying on a profession. The persons having income from the following sources are eligible to file ITR-3: 1. Carrying on a business or profession not opting for presumptive income 2. Carrying on a business or professi...

    See full list on cleartax.in

    The current ITR-4 applies to individuals and HUFs, Partnership firms (other than LLPs), which are residents and whose total income includes: 1. Business income according to the presumptive income scheme under section 44AD or 44AE 2. Professional income according to presumptive income scheme under section 44ADA 3. Income from salary or pension up to...

    See full list on cleartax.in

    ITR-5 is for firms, LLPs (Limited Liability Partnership), AOPs (Association of Persons), BOIs (Body of Individuals), Artificial Juridical Person (AJP), Estate of deceased, Estate of insolvent, Business trust and investment fund. Click here to read our comprehensive guide to the ITR-5

    See full list on cleartax.in

    For Companies other than companies claiming exemption under section 11 (Income from property held for charitable or religious purposes), this return has to be filed electronically only. Click here to read our comprehensive guide to the ITR-6

    See full list on cleartax.in

  3. cleartax.in › s › deductions-under-section24-incomeSection 24 - Tax Deductions From House Property Income - ClearTax

    Deduction of Interest on Home Loan for the property –House Property owners can claim a deduction of up to Rs.2 lakh on their home loan interest if the owner or his family reside in the house property. The same treatment applies when the house is vacant.

  4. learn.quicko.com › income-from-house-property-andIncome from House Property and Taxes - Learn by Quicko

    Apr 20, 2023 · What is the difference between self-occupied and let out house property? Hey @AARTI_THAKKAR. House property for income tax purpose include: Any building: residential housed, flats, shops, office spaces, factory shed, godowns, workshop building, farmhouses, etc. Land attached to that building.

  5. www.incometax.gov.in › iec › foportalFAQs on New vs. Old Tax Regime (AY 2024-25)

    1) What is the difference between the old and new tax regime? Ans: The tax slabs and rates are different in old and new tax regimes. Various deductions and exemptions are allowed in Old tax regime. The new regime offers lower rates of taxes but permits limited deductions and exemptions.

  6. www.icicibank.com › knowledge-hub › blogTax Implication on Second House in India - ICICI Bank

    Tax Benefit on Interest Payment. If you are holding a house for the self-consumption purpose, then as per Section 23 of the Income Tax Act, 1961, your gross annual income will be considered as NIL. For the second house, the notional rent is not taxable.

  7. People also ask

  8. www.investopedia.com › investing › 8-things-consider8 Things to Consider Before Buying a Two-Family House

    Jul 24, 2023 · What's the Difference Between One-Family and Two-Family Homes? A one-family home, often referred to as a single-family, is simply one dwelling. A two-family home is a building with two...