13 January 2014
My client is having a home and he has taken home loan on it. As he is awailing IT rebate on it kindly guide, Can rent received be set off by the maintainence expenditure & to what extent.
20 January 2014
Dear sir , the amount of interest on home loan deduction is to the extent of rs 150000 .... As per present law you will be getting 30 % statutory deduction from the net annual value ... no separate deduction is available for maintainence charges .....If the rent is received and that amount qualifies as net annual value from that 30 %deduction is available .... flat ....
CAclubindia
