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House property

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(Querist)
31 July 2012 Sir

My client has property at Thailand. he is resident in India. is Rent recd from thailand property taxable under House property and can he claim 30 % deduction u/s 24 (a)

Thanks
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Mohit Naithani

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Mohit Naithani (Expert)
31 July 2012 Yes,

Property income is in foreign Company is taxable as Property is In India,

Fair Rent,Municipal Value,Standard Rent is to be calculated as property is in India, Any Local tax paid abroad are allow to deduct while computing Income from House Property.
The calculation is same as property is in India mean deduction allow u/s 24 :
1) 30% standard Deduction
2) Interest paid / payable on loan for house property.
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