Rent for. house in dubai

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Kanchan Mahbubani (Querist)
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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

K Srinivas, CMA CS (Expert)
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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

K Srinivas, CMA CS (Expert)
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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

K Srinivas, CMA CS (Expert)
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09 August 2017 Principal repayment will be deductible under 80c only if the loan is from Indian institutions.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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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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