Rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2015 Dear sir,

I have rental income amount of Rs.80 lacs.
I am appoint one person for rent collection. His salary 7000/-P.M.

My clarification his salary deduction my rental income ?

Pl give suggestion how compute my income computation

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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13 March 2015 As per section 24 only two deductions are available out of rental income:

1. 30% standard deduction for repairs
2. Interest on borrowed capital if any.

As section 24 is very much clear on this point no other deduction is available out of rental income.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 March 2015 this exp of salary paid is not allowed as deduction.

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