Taxation of Rental income
This query is : Resolved
28 November 2016
Respected experts
One of my clients is a senior citizen and wud be retired on 30Nov16
Now he has 3 property in his name and out of which:
1.In Property 1,it is let out as well as self occupied
2.Propeety 2 is let out for whole yr nd TDS deducted on rent rec'd
3.Property 3 is lying vacant nd wud be rented from 1 Jan 2017
Now,plz tell me the tax treatment of the rent received/ receivable..??
Thnx in advance
28 November 2016
Dear Lakshay, as per 1st case u must treat is as 2 units, 1 let our and 1 self occupied. So tax will b calculated on 4 House properties. Regarding Computation U may please visit the following link for details description regarding the topic.
http://www.incometaxindia.gov.in/tutorials/income-from-house-property-practical.pdf
http://www.incometaxindia.gov.in/tutorials/income-from-house-property-practical.pdf
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