tax
This query is : Resolved
27 May 2011
If the main business of an individual is to letting the premises, than can he take the advantage of standard deduction of 30% under section 24.
CA Navin Jain
(Expert)
27 May 2011
yes, he can take the advantage of deduction, but can not take the advantage of any expenses related to income generate from rent.
Message likes :
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CA Navin Jain
(Expert)
27 May 2011
You make the profit and loos account, but tax will be calculated under head income from house property
27 May 2011
if it is his main business then how can it calculated under IFHP.
CA Navin Jain
(Expert)
27 May 2011
even its main business, but u can take the advantage of ifhp
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