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
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
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.
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.
13 March 2015
this exp of salary paid is not allowed as deduction.
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