Rental Income

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TARIQUE RIZVI (Querist)
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25 February 2020 Ay 20-21 if the rental income is upto Rs 5 lacs of a femal senior citizen, whether the said income will be taxable ?

Eswar Reddy S (Expert)
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25 February 2020 Yes.It is taxable. But rebate can be claimed under section 87A. So no need to pay tax.For this you must file ITR on time

Amol S Joglekar (Expert)
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26 February 2020 considering the standard deduction of 30%, the income would be below taxable

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