deduction for rent paid
This query is : Resolved
19 November 2009
I had taken a house on rental basis & giving the same to another party on rental basis.
Income from rent will come under which head?
Full Rent paid will be allowed as deduction from full rent recd ?
Income from rent will come under which head?
Full Rent paid will be allowed as deduction from full rent recd ?
19 November 2009
as you said you have taken the house property on rent & then sublet this to some one. You earn during that transaction, so as you this is rental property that means you can not show this as income from house property.
Also letting the property is not your business (i assumed) so this will not be part of business income.
Conclusion : This will be considered as other source income in computation sheet.
Also letting the property is not your business (i assumed) so this will not be part of business income.
Conclusion : This will be considered as other source income in computation sheet.
23 November 2009
Thanks for reply.
Pl let me know whether I can deduct rent paid from rent recd under the head IFOS in computation of income?
Pl let me know whether I can deduct rent paid from rent recd under the head IFOS in computation of income?
03 July 2023
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