TAX IS IMPOSED BY GOVERNMENT AND IS PERVASIVE IN OUR LIFE AT EVERY STAGE AND ACTIVITY.
HOWEVER GOVERNMENT HAS ALSO PROVIDED US WAYS THROUGH WHICH WE CAN SAVE OUR TAXES.
FOR EXAMPLE : WE SHOULD BE CAREFUL IN BUYING MORE THAN ONE HOUSE AS IF WE HAVE MORE THAN 1 HOUSE OUR TAX LIABLITY INCREASES.
AS GOVERNMENT GIVES US OPTION THAT WE CAN KEEP ONE HOUSE AS SELF OCCUPIED WHEREAS THE OTHER HOUSE IS TAXED AS PER THE STANDARD RENT OR PREVALENT RENT IN THAT AREA.
WE SHOULD BE CAREFUL IN SELECTING THE HOUSE THAT WE WANT TO KEEP FOR SELF OCCUPIED.
IN THIS CASE FOR EXAMPLE IF WE HAVE MORE THAN 1 HOUSE AND THE RENT OF THE HOUSE IS 30000 PER MONTH IN THAT AREA THEN OUR YEARLY INCOME BY 360000 LESS 30% ,I.E 252000.
HOWEVER GOVERNMENT HAS ALSO PROVIDED US WAYS THROUGH WHICH WE CAN SAVE OUR TAXES.
FOR EXAMPLE : WE SHOULD BE CAREFUL IN BUYING MORE THAN ONE HOUSE AS IF WE HAVE MORE THAN 1 HOUSE OUR TAX LIABLITY INCREASES.
AS GOVERNMENT GIVES US OPTION THAT WE CAN KEEP ONE HOUSE AS SELF OCCUPIED WHEREAS THE OTHER HOUSE IS TAXED AS PER THE STANDARD RENT OR PREVALENT RENT IN THAT AREA.
WE SHOULD BE CAREFUL IN SELECTING THE HOUSE THAT WE WANT TO KEEP FOR SELF OCCUPIED.
IN THIS CASE FOR EXAMPLE IF WE HAVE MORE THAN 1 HOUSE AND THE RENT OF THE HOUSE IS 30000 PER MONTH IN THAT AREA THEN OUR YEARLY INCOME BY 360000 LESS 30% ,I.E 252000.
No comments:
Post a Comment