Rent maintenance

Amber Jain (Article Assistant) (206 Points)

20 June 2013

Hello,

Whether deduction is allowed to individual on expense incurred on maintenance of rented premises.

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(Guest)

It depends on income from rented premises, taxable under which head.

If taxable under House property:

Then deduction of Muncipal tax, Standard deduction of 30% and Interest of housing loan is available.

If taxable under Business & Profession:

Then dedcution of any Muncipal tax paid, Insurance, repair & maintaince etc, depriciation is allowed.

If taxable under Other Sources:

Then repair & maintaince, depriciation and any other expense incurred to such income is deductible.

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