Standard deduction on rental income
This query is : Resolved
26 February 2024
Hello
I need to know whether standard deduction of 30% on rental income is applicable for a company renting out premises to a school/ college.
Kindly clarify. Thanks.
I need to know whether standard deduction of 30% on rental income is applicable for a company renting out premises to a school/ college.
Kindly clarify. Thanks.
CA R SEETHARAMAN
(Expert)
26 February 2024
No, it's applicable only for residential house.
Claim depreciation and actual repair expenses.
Claim depreciation and actual repair expenses.
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