My 3 year rental were booked in one year only so I am getting huge tax liability.
Is there any way to reduce tax ?
Plz help urgent
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Income from House property
Replies (5)
Quick Summary
If you have taken loan for the property , and it is a let out one naa then you can claim interest paid in the funancial year ,if it is self occupied naa then lower of 200000 or actual interest paid in the fy can be claimed to reduce the tax burden .
No way to reduce tax, pay tax under normal procedure
You will only be eligible for 30% Standarddeduction from the total rental income
Can I get any relief like under section 89 ?
No, section 89 not applicable in your case
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