Rental income - overseas
This query is : Resolved
Rakesh Sharma
(Querist)
02 August 2012
My client is now resident Indian. Has Rental Income in USA.
Whether the standard deduction of Rental Income is applicable in this case also
or
The expenses are to be deducted for the computation of rental income to be mentioned in ITR
Whether the standard deduction of Rental Income is applicable in this case also
or
The expenses are to be deducted for the computation of rental income to be mentioned in ITR
Amol S Joglekar
(Expert)
02 August 2012
Yes, the 30% deduction is applicable.
02 August 2012
Dear Friend, All income of resident will be taxed in India. Now in your case total deduction will be available 30% plus taxes he has paid to local authority as applicable. Thanks
Rakesh Sharma
(Querist)
02 August 2012
Thanks Mr. Joglekar and Mr Deepak Pratap Singh
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