Income From House Property_Let out Property under Lease.

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This discussion explains how to calculate income from a let-out property under a lease agreement. It suggests considering 2.5% to 3% of the capital value as income, and for refundable lump sum lease deposits, 8% of the deposit amount can be treated as annual rent. The advice also clarifies that this can be considered alongside TDS on salary calculations and during Income Tax Return (ITR) filing.

Ratheesh

Ratheesh (Querist)

08 January 2024 Dear Sir/ Madam,

How to calculate income from House property incase of Let out Property under lease.

Thanks in Advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 January 2024 2.5% to 3% of capital value can be considered as income from house property.
In case of refundable lumpsum lease deposit 8% of the amount may be considered as annual rent.

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Ratheesh

Ratheesh (Querist)

11 January 2024 Thank you for your reply sir

Same can we consider along with TDS on Salary calculation ? or while filing ITR ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 January 2024 You can consider TDS along with salary.

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