Dear Sir / Madam,
Sir please confirm, building plan approval charges for the rented property is eligible for deduction under the house property.
I think not, but one of my friend is saying it's eligible, please confirm dear experts
No. For rented income only flat deduction of 30% is allowed under sec. 24(b) of I T act.
ANY other expenses other than Municipal Taxes and Interest on Borrowed Funds are NOT allowed.
AS the standard deduction @ 30 % flat is allowed u/s 24(a) of GAV then any other expenses whatever the name called is not allowed as deduction .
In your case , such expense is not allowed .
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
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