Standard deduction
This query is : Resolved
27 November 2014
Can a partnership firm claim standard deduction from income arising out of letting out of property? Or will it be advisable to take the Income as business of letting out and claim expenses out of such income
27 November 2014
There is no restrictions for taking standard deduction under income from house property for firm, the calculation of house property income same for all the assesses
28 November 2014
yes parter ship can claim the deduction u/ s 24(b) 30% of net rent
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