Rent for. house in dubai
This query is : Open
Kanchan Mahbubani
(Querist)
09 August 2017
Hi I want to buy a house in Dubai and will be taking home finance for the same. I want to give it on rent for a few years ro pay the emi. Whatever rental income I get will go to the bank . Will I be taxed on that income. I work and live in india. I am a resident.
K Srinivas, CMA CS
(Expert)
09 August 2017
Income arising in and out of India is taxable in case of resident. Therefore the income from your dubai property will be taxable.
K Srinivas, CMA CS
(Expert)
09 August 2017
Interest on home loan you pay on such property will also be tax deductible if there's a documentary evidence for the interest paid
K Srinivas, CMA CS
(Expert)
09 August 2017
Principal repayment will be deductible under 80c only if the loan is from Indian institutions.
K Srinivas, CMA CS
(Expert)
09 August 2017
You have to show the income earned from such property , interest paid etc while filing your income tax return in India.
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