Tax on rental income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2014
Dear Sir,
Last month I inherited certain property form which I am getting rental income which comes around Rs.600000/- per annum. Can I claim any other amount other than the 20% for maintenance? If so under what head.
Last month I inherited certain property form which I am getting rental income which comes around Rs.600000/- per annum. Can I claim any other amount other than the 20% for maintenance? If so under what head.
16 January 2014
It is 30% ,and not 20% ,u/s 24(a) of the Income tax Act,1961. Building tax paid , levied by local authority,also can be deducted.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 January 2014
Thank you Mr. Warrier for your guidance.
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