Deduction u/s 24(a)

This query is : Resolved

RJ Modi (Querist)
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11 December 2015 Hi, I am secretary of Cooperative housing Society, we have rented out terrace to mobile tower companies and we are getting rental income from that. My query is when I fill ITR, the rental income can be claimed or not as a deduction under section 24(a) @30%. Pls provide your feedbacks.

RONAK DARJI

RONAK DARJI (Expert)
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12 December 2015 Sir,
Fist, TDS u/s 194 C applied @ 2% in your case.

Second, Rent from telephone tower which has been put on the top of the building shall not be taxable under the head IFHP, It shall be considered IFOS.

Therefore, Your assessee are not allowed to take dedcution u/s 24(b) 30% on such rental income, as it is not fall under the head Income From House Property.

Regards,
Ronak Darji
ronak.jdarji@gmail.com

RJ Modi

RJ Modi (Querist)
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28 January 2016 Pls read this article. [Terrace Letting Income is income from house property] is good,have a look at it! https://taxguru.in/income-tax-case-laws/income-letting-terrace-income-house-property.html

RJ Modi

RJ Modi (Querist)
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28 January 2016 [Terrace Letting Income is income from house property] is good,have a look at it! https://taxguru.in/income-tax-case-laws/income-letting-terrace-income-house-property.html

RJ Modi

RJ Modi (Querist)
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28 January 2016 https://taxguru.in/income-tax-case-laws/income-letting-terrace-income-house-property.html

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