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claiming property tax n maintenance charges in house income
How to claim for tax deduction on property tax and maintenance charges from rental income ..ok guide ...I have 40000/- rental income ....10560/-property tax paid and (1316/-per month )paid maintenance charges total 15792/- pl guide
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Gross property rental income under HP..... Rs. 4,80,000/-
Less: property/ municipal tax...... Rs. 10.560/-
Net rental income Rs. 4,69,440/-
Less: Standard Deduction @ 30%.S24(a) Rs. 1,40,832/-
(this deduction includes all the maintainance and repairs charges)
annual income is 40000/- only not per month
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