Income from house property
This query is : Resolved
GEETA ARUN JADIYAR
(Querist)
30 March 2012
If I have rental income from property given on commercial use.. Income is Rs. 100000/- per month i.e. Rs. 12 Lacs per annum, then
Do I get the standard deduction of 30% u/s 24A?
Do I get the standard deduction of 30% u/s 24A?
30 March 2012
Yes you are eligible for deduction u/s 24. you are eligible for deduction in respect of interest on loan, if any, paid in respect of such property.
30 March 2012
yes, you can claim standard deduction u/s 24a. Provided property should be house even given for commercial use or otherwise.
Mihir Doshi
(Expert)
30 March 2012
Agree with Expert.
Here you need to charge Service Tax also upon the rented premises.
Thanks
Mihir Doshi
Here you need to charge Service Tax also upon the rented premises.
Thanks
Mihir Doshi
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
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Visiting card purchase
- Additional trade name
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
