Dear All,
Is maintenance paid for let out house property allowable as deduction or is covered under the standard deduction of 30% u/s 24(b)?
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Income from house property
Replies (9)
It is covered under 30%
Yes, already included in 30% deduction.
30% deduction u/s 24 (a)
Agree with Madhavi pandit
There is Mainly two type of Deductions are allowed from income from house property. one is interest and second is standard deduction.
so i can say all other exp like maintainence exp etc. are already included in Std. Deduction.
Any expenses related to repairs n maintainance of HP are covered in std deduction 30%. These exp. are not seperately deducted.
All expenses other than (a) local authority taxes actually paid during the previous year and (b) interest due are covered by standard deduction (30% of net annual value) u/s 24(a).
Hence, no deduction shall be allowed for such expenses.
If it is monthly maintenance charges paid to the society for the maintenance of common area the rental income should be net of such maintenance.
If it is monthly maintenance charges paid to the society for the maintenance of common area the rental income should be net of such maintenance.
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