Rental income & repairs & maintenance

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TARIQUE RIZVI (Querist)
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21 July 2018 Rental Income .....................................100
Less Repairs & Maintenance ............... 10
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Gross Taxable Income ........................Rs 90
Less 30% exemption ...... Rs 27
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Balance Taxable Income Rs 63
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Respected Sirs,
Please guide me and oblige.

Also please let me know as under which section repairs & maintenance exemption is allowed.

yours tarique rizvi

982 1630 130

CA Mayur Todmal

CA Mayur Todmal (Expert)
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21 July 2018 INCOME 100
less municipal taxed paid
Net Income
Less :standard deduction 30% Rs. 30
Taxable income 70

Gokul Sharma

Gokul Sharma (Expert)
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21 July 2018 TARIQUE RIZVI do you know .why the standard deduction 30% is given by govt ?
this is given for the repair and maint expenses on buildings on presumptive basis.
you cannot claim double relief .

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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21 July 2018 Tks sir for your best guidelines.

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