MSME Certified Income Tax Live Batch to commence from 21st January 2022. Limited Seats. Register Now!!


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Claim of Standard Deduction

This query is : Resolved 

01 December 2021 Dear Sirs,
I have a rental commercial property in my name in which tenant is Punjab National Bank. For some months bank did not pay rent to me and said that they did repair and maintenance in the building of Rs.5,50,000/- so he deducted out of rent.
My simple question is that while filing my income tax return. I am eligible to claim 30% standard deduction of annual rental income or full amount of Rs.5,50,000/-.
Please clarify

01 December 2021 30% standard deduction is the maximum allowable under the act.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries