DEVARAPU SREENU (SREENU) (77 Points)
12 February 2014dear sir,
we have house property in my vilage,but i am leaving in bangalore take a rented house,i coolect the rent from my won house in village? my quesition is that rent is taxbale are not if taxbale rent paid by me are deduct in total income please tell me sir
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 February 2014
Rent received from house property shall be chargeable to tax under the head income from house property. You may claim deduction u/s24 of upto 30% of the nav. If you are not the only owner, then the other co-owner, too, will have to show this income in their ITR just like you.
DEVARAPU SREENU
(SREENU)
(77 Points)
Replied 14 February 2014
rent paid in bangalore is deductbale or not
CA SUKSHAM ARORA
(CA)
(569 Points)
Replied 14 February 2014
ACCORDING TO ME, NO ,RENT PAID BY U IS NOT DEDUCTABLE
manoj kumar
(Assistant officer)
(50 Points)
Replied 14 February 2014
rent collected by you from your house property will be charged as income under the head income from house property. u will get a standard deduction of 30% on that under section 24.
and regarding your rent paid by you in banglore, if you are a salaried employee and getting HRA as part of your salary than you can claim HRA exemption u/s 10, for this you have to submit proof for rent paid by you to your employer.
CAclubindia
