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Income from house property
my client has a large income from house property. is there any other deduction which can be claimed other than standard deduction?
Replies (9)
Municipal property tax paid can be claimed as deduction.
interest on loan borrowed for constuction of house property
Unrealized rent can be claimed
Vacancy allowance (if any)
10 lac above service tax applicable
Make it main objective of business than claim its income under head of PGBP.
Make it main objective of business than claim its income under head of PGBP. After that we can claim other expenses without no limit !
House property income has to be assessed as house property assessment and cant be assessed as normal business income even though assessee's main source of income is from house property.
Dheeraj
I think we can't assess house property income in pgbp
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