Deduction on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2010
Dear all,
Whether rent received from land is eligible for standard deduction.
Its very urgent.
Thanking You.
Whether rent received from land is eligible for standard deduction.
Its very urgent.
Thanking You.
24 July 2010
No deduction. To be offered for taxation under the head "Income from other sources".
CA Sanat Pyne
(Expert)
24 July 2010
yes it will be treated as income from other source.
24 July 2010
AGREED, RENT INCOME FROM LAND IS NOT HOUSE PROPERTY INCOME, IT IS INCOME FROM OTHER SOURCE.
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