Rent from Commercial Property
This query is : Resolved
10 February 2021
A Pvt Ltd Company has rented own premises and getting rental income
My question is whether the rental income can be shown under Income from House Property and 30% can be claimed towards repairs ?
My question is whether the rental income can be shown under Income from House Property and 30% can be claimed towards repairs ?
10 February 2021
The annual value of property , other than property occupied by assessee for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable as Income from House Property.
And, if it is charged under "Income from House Property" deduction of on account of repairs (@30%) and payment of interest on loan can be claimed.
And, if it is charged under "Income from House Property" deduction of on account of repairs (@30%) and payment of interest on loan can be claimed.
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