allowance of brokerage from rental income
This query is : Resolved
20 April 2010
My father is having a old property on lease fro over last 30 years. 2 years back we have let out a portion to a MNC on Leave & licence basis throug a broker.
We had claimed deduction of 30% from the rental income in the ITR/Compautation. Now the ITO on scrutiny is not allowing the brokerage paid as expenses from the total income.
Deduction is 4 times the brokerage paid.
We had claimed deduction of 30% from the rental income in the ITR/Compautation. Now the ITO on scrutiny is not allowing the brokerage paid as expenses from the total income.
Deduction is 4 times the brokerage paid.
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