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house rent income

Tax queries 518 views 39 replies
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"Do the Right Thing...!!!"
128147 Points Posted on 29 July 2017
income ceiling can't based on city or village....!
463 Reply
On 29 July 2017 at 21:42
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Chartered Accountant
86505 Points Posted on 29 July 2017
If there is no business income then you can claim deduction of rent u/s 80GG
814 Reply
On 29 July 2017 at 21:44
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lecturer
63 Points Posted on 29 July 2017
is there any exemption
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On 29 July 2017 at 21:46
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Chartered Accountant
86505 Points Posted on 29 July 2017
No other exemption availed.
814 Reply
On 29 July 2017 at 21:48
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"Do the Right Thing...!!!"
128147 Points Posted on 29 July 2017
Dear ketan.,
Please You can consult nearest Consultant or CA
463 Reply
On 29 July 2017 at 21:49
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lecturer
63 Points Posted on 29 July 2017
what is 80gg
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On 29 July 2017 at 21:50
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12244 Points Posted on 29 July 2017
you can't claim 80gg
your income from house property will be as below
actual rent received - 240000
less : municipal taxes - 5000 (assumption)
less: standard deduction - 70500
less: interest on borrowed capital, if any
income from house property - 165500/-

you can claim hra exemption of 6500 * 12 = 78000
35 Reply
On 29 July 2017 at 23:22
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lecturer
63 Points Posted on 30 July 2017
I staying in same city will I get benefit of hra
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On 30 July 2017 at 13:10
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Chartered Accountant
86505 Points Posted on 30 July 2017

No HRA exemption allowed Ramakrishnan

814 Reply
On 30 July 2017 at 13:25
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lecturer
63 Points Posted on 30 July 2017
but I am staying on rent and will be paying tax on my house rent income
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On 30 July 2017 at 13:28
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lecturer
63 Points Posted on 30 July 2017
so I should be eligible for hra
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On 30 July 2017 at 13:29
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lecturer
63 Points Posted on 30 July 2017
also what is standard deduction
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On 30 July 2017 at 13:30
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Chartered Accountant
86505 Points Posted on 30 July 2017

No you cant get any exemption.

Standard Deuction is deduction of 30% from H.P. income

814 Reply
On 30 July 2017 at 13:54
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lecturer
63 Points Posted on 30 July 2017
will I get 30 % standard deduction
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On 30 July 2017 at 13:56
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Chartered Accountant
86505 Points Posted on 30 July 2017
Yes..............
814 Reply
On 30 July 2017 at 17:25


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