Maintenance expenses for society flat
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 November 2014
Hi,
I have rented out a society flat.
The tenant pays rent and the maintenance fee to me. The maintenance fee is in turn paid to the society by me.
The rental amount is my earning.
Am I allowed a "fixed" monthly/annual deduction as maintenance expenses for the apartment?
I guess such an expense is allowed. After this deduction my rental income (which is also my total income as I have no other income) will be below the tax limit.
Is this sum fixed, depends on certain factors like area, ...? How much is this amount?
Thanks in advance.
I have rented out a society flat.
The tenant pays rent and the maintenance fee to me. The maintenance fee is in turn paid to the society by me.
The rental amount is my earning.
Am I allowed a "fixed" monthly/annual deduction as maintenance expenses for the apartment?
I guess such an expense is allowed. After this deduction my rental income (which is also my total income as I have no other income) will be below the tax limit.
Is this sum fixed, depends on certain factors like area, ...? How much is this amount?
Thanks in advance.
04 November 2014
30% deduction is given to The net rent (Rent received less municipal taxes paid)
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