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Residential rental income

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2012 Sir i have rented my flat and leaving on rent in another flat in same locality as i have to stay near my parents.
Can i show rental income as additional income and allow deductions for rent paid on rented flat in which i am staying at present.
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Mohit Naithani

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Mohit Naithani (Expert)
20 December 2012 No,

Only deduction u/s 24 i:e :
1. 30% standard Deduction
2. Interest on housing Loan

is allow to deduct.

Rent paid by assessee is not allow to adjust with his rental income in any case.
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2012 thanx for the information
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@VaibhavJ

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@VaibhavJ (Expert)
20 December 2012 Hi

If you are salaried you can claim HRA for rent paid.

Thnaks
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