Housing society maintenance amount from rental income

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I have a flat in Indirapuram which is on mothly rent of Rs 25000 + Housing Society Maintenance of Rs 2000/-. My tenant deposits Rs 27000/- in my account every month. I pay the monthly housing society maintenance. For the calculation of Income Tax - Income from Property, Can I show only rental income, i.e.,

25000X12= Rs 300000 and deduct 30% from it (300000 - 90000= Rs 210000) as my Annual Income from Property ?

Or I have to include monthly maintenance paid to the housing society in the rental income ?

Thanks!

Replies (1)

You have to include monthly maintenance paid to the housing society in the rental income........ Only municipal tax paid and included in it is deductible over and above standard deduction of 30%


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