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Standad deducation of 30 % on rent income

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 September 2015 Hello Experts,

As we all know that we get standard deduction of 30 % on rent income along with other exps. like municipal corporation tax etc.

I want know that whether it is applicable to individuals (property buyers) ? or applicable to builder of the same property also ? i.e. if i am engaged in construction business, I have built up 50 flats, among the 50 flats I have given 5 flats on rent to Reliance Inds.or to any other individual... So, as a builder of the property can i claim 30 % of standard deduction or it will be considered as my business income ??
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 September 2015 If builder treat the rental income as income from house property, the builder can claim 30% standard deduction.

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