Deductions against renting property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 November 2013
Expenses incurred during renting the property to someone i.e. Professional or consultancy fees.........Can a individual claim deduction against Rental income.
Guest
Guest
(Expert)
26 November 2013
No.. Only Standard Deduction and Interest on Borrowing is allowed as a deduction..
Municipal taxes are also allowed on payment basis and only if they are paid by the Owner.
No other expeses are allowed as a deduction from house property Income
Municipal taxes are also allowed on payment basis and only if they are paid by the Owner.
No other expeses are allowed as a deduction from house property Income
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