Centfit Limited is a leading Tax and Financial Advisory consultant that provides a full range of professional Tax services in various sectors such as Real Estate, Hospitality, Manufacturing, Retail, Human capital etc.
Real Estate tax/Rental Income Tax has undergone a lot of changes in a bid to ensure landlords remit in time
OUR RENTAL INCOME TAX SERVICES
1. We will run a well prescribed rent schedule in excel application sheet for our clients outlining the following
• Personal details of the tenants e.g. Name, ID no, phone number and house number
• Standard Rent /Paid rent per month
• Date of rent payment
• Total monthly collections
• Total rental income for the property
• Total rental income tax payable
Such record is prerequisite for filing such returns. We share the same with the clients monthly for verification
In fact in some cases of confusion, we undertake to do the house numbering tags for easy identification
2. In cases where the client has never filed the rental income tax, we will institute a system of the same and bring it up-to-date. Also in cases where the KRA has filed the initial return and default message sent on clients email, we will follow it through and apply for the appropriate waivers for the same.
3. Our advisory services are meant to cushion the client from unnecessary penalties and fines that come as a result of lack of knowledge as far as rental income tax remittance and filing is concerned.
4. We will advise, where necessary, if the client should maintain and run the property in his/her name(thereby using his/her personal pin) or register a private limited company which will run the property as a separate legal entity, in its own pin.