House property
This query is : Resolved
Asawari Malhotra
(Querist)
02 July 2013
If the assessee carries out a BUSINESS of letting out properties, is the income earned therefrom taxed under house porperty ? If so, when the assessee incures expenditure on advertising his property to find a good tenent, is this expense allowable under house property?
CMA Ramesh Krishnan
(Expert)
02 July 2013
Yes. it is taxable under house property income and no other expenses are allowed other than repairs & maintenance 25% & Interest u/s.24
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