Rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 January 2017
I have given my house on Rent. Rent is Rs.4500/- (Rs.3000/- towards rent, Rs.1000/- towards maintenance & Rs.500/- towards parking ) Please explain how i should show in my IT return. I have purchased this house on Loan.
04 January 2017
The rent is the gross amount...i.e. 4500 in yur case
Gross rent 54000
Less Municipal taxes paid. 4000 (assumed)
Net 50000
Les 30% 15000
Net 35000
Less Interest on housing loan
Gross rent 54000
Less Municipal taxes paid. 4000 (assumed)
Net 50000
Les 30% 15000
Net 35000
Less Interest on housing loan
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