Building rent received by nri and taxabilty
This query is : Resolved
20 March 2014
An NRI who owns a Godown in India bought it for 2cr and gets rent from it approx Rs.60000/- what r the tax treatment? TDS and deduction and tax saving ideas
21 March 2014
1. The income is taxable under the head Income from House Property.
2. The assessee will get deduction of municipal rent and thereafter standard deduction of 30%.
3. He is also eligible for deduction in respect of repayment of housing loan.
2. The assessee will get deduction of municipal rent and thereafter standard deduction of 30%.
3. He is also eligible for deduction in respect of repayment of housing loan.
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