Landlord is not giving PAN copy for claiming HRA

Rent and HRA is one of the effective tax planning tips for salaried employees. It make sense to claim full HRA tax benefit. It is now mandatory that pan copy of landlord to be submitted where actual annual rent paid as claimed by the employee exceeds Rs 1,00,000 per annum ( ie Rs. 8333.33 per month). … Continue reading

TDS on Immovable Property to be deducted by buyer at 1%

Section 194IA, is effective from 01.06.2013.  Accordingly on sale of immovable property Buyer has to deduct TDS @1% and deposit the same with the income tax department. Key Highlights of TDS on Immovable property are mentioned below: TDS is to be deducted by buyer @ 1% of value. TDS is … Continue reading