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Rental Income

This query is : Resolved 

Ay 20-21 if the rental income is upto Rs 5 lacs of a femal senior citizen, whether the said income will be taxable ?


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..

considering the standard deduction of 30%, the income would be below taxable


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