Ask Masters Latest Questions

Sumit Upadhyay
  • 0
  • 0

  1. It depends, as not all cashier checks are free. Most of the banks, financial institution and credit unions charge a definite fee for a cashier's check. However, you may be able to get free cashier's checks if you own a premium checking, savings, or a money market account at that bank.

    It depends, as not all cashier checks are free. Most of the banks, financial institution and credit unions charge a definite fee for a cashier’s check. However, you may be able to get free cashier’s checks if you own a premium checking, savings, or a money market account at that bank.

    See less
    • 0
Sumit Upadhyay
  • 0
  • 0

  1. Yes, when you pay rent to your parents, this payment shall be taxable for them. The rental income paid by you to them is supposed to be reported under the head of "income from house property" as a part of their Income tax return. However, it may be available for them to claim property taxes paid byRead more

    Yes, when you pay rent to your parents, this payment shall be taxable for them. The rental income paid by you to them is supposed to be reported under the head of “income from house property” as a part of their Income tax return.
    However, it may be available for them to claim property taxes paid by them and further claim a standard deduction of about 30% from this rental property income.

     

    See less
    • 0
Sumit Upadhyay
  • 0
  • 0

  1. For payment of rent, using a cheque is considered good and ideal, rather than cash. Moreoevr, whenever a tenant tenders the rent in full and lets say a landlord refuses to accept it, the tenant here will be at a liberty to send the rent by a money order. Tendering rent by cheque is a valid tender hoRead more

    For payment of rent, using a cheque is considered good and ideal, rather than cash. Moreoevr, whenever a tenant tenders the rent in full and lets say a landlord refuses to accept it, the tenant here will be at a liberty to send the rent by a money order. Tendering rent by cheque is a valid tender however, the cheque should not be dishonoured.

    See less
    • 0
Sumit Upadhyay
  • 0
  • 0

  1. Yes, you can give your house rent in cash to your landlord or rent collector, but make sure to obtain cash receipt from them, for this payment. However, make sure you can show corresponding and adequate cash amount withdrawals from your bank account or be able to establish or show the generation ofRead more

    Yes, you can give your house rent in cash to your landlord or rent collector, but make sure to obtain cash receipt from them, for this payment.
    However, make sure you can show corresponding and adequate cash amount withdrawals from your bank account or be able to establish or show the generation of sufficient cash (example earning), accordingly to the accountability satisfaction of the assessing officer.

    See less
    • 0