House property
This query is : Resolved
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
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
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
