Sunday, March 17, 2013

What's some Christmas present ideas from a daughter to a father?

Q. He's in his thirtes, not into golf or any of that. What's some gifts $50 an under. Thanks!

A. Its the thought that counts

Can I Claim housing Loan on gifted house?
Q. I would like to know if my husband gifts 50% of the ownership of the house to me, would be able claim returns on the housing loan which i am a co borrower. What would be the gift tax applicable for this? Please clarify which would be benificial as currently i am not the owner of the house but i am the co borrower.

A. if your husband gift 50 % part to you than no benefit available to you as per section 22 of income tax act your husband will treatred deemed owner of the House for 100 % . so no tax benefit avaialable to you . Better is if you purcahse house 50 % from your husband .

http://www.simpletaxindia.org/p/income-from-house-property-income-tax.html

Birthday gift, what unique thing would be cool for a guy?
Q. We have a little Saloon in town and the owner, who is the coolest guy is gonna be 60, I need suggestions on a gift under $50.!
Something that can be delivered hopefully
and I like unique, not "run of the mill tossed in a pile of never used or wanted gifts" things.
thanks!

A. One of the most useful gifts I get is a gift card for the Warehouse. It is one of those shopping barns, that will enable him to select something he will find useful.




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