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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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

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