Re: rent income from residential property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 December 2016
Sir/Madam
What are the deductions allowed in the case of income from renting your residential property. Is maintenance and repair fund paid for the house be used for deduction from the income of renting your house. Any other deductions.
What are the deductions allowed in the case of income from renting your residential property. Is maintenance and repair fund paid for the house be used for deduction from the income of renting your house. Any other deductions.
CMA Ramesh Krishnan
(Expert)
29 December 2016
For letout property you can claim the deduction u/s.24. repairs & maintenance 30% of annual value & Interest on borrowed capital is actual value
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