Rental Income
This query is : Resolved
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TARIQUE RIZVI
(Querist)
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)
25 February 2020
There will be standard deduction of 30% on NAV for rental income.
Yes.It is taxable but rebate u/s 87A can be availed.But you must file ITR to avail rebate..
Amol S Joglekar
(Expert)
26 February 2020
considering the standard deduction of 30%, the income would be below taxable
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