LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Income From House Property

Prasad Choche (Tax Consultant) (40 Points)

06 July 2010

I am salaried employee & my company provides me the accommodation facility. I have also the ownership flat & on these flat I received the Rent. So, can I treat this Rent shown under the Income From House Property?

Reply
Follow
Share

5 Replies

CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 06 July 2010

s. u have to show it as IFHP

1 Like

CA Amit Kanani (Practicing CA) (338 Points)
Replied 06 July 2010

Yes, rent income is taxable under H.P. But u r eligible for deduction U/S 80GG if that flat is in another city and due to your employment u r not able to stay there. but if flat and your employment is in same city then u not get deduction.

1 Like

Karthik (Employed) (56 Points)
Replied 06 July 2010

Yes, the rental income forms part of your income from house property. The income needs to be calculated as specified.

1 Like

priyanka narale (PCC student) (407 Points)
Replied 07 July 2010

yes, u have to show the rent received from owned house as income from HP.

1 Like

Nitin Grover (CS) (1228 Points)
Replied 07 July 2010

Originally posted by : amit kanani
	Yes, rent income is taxable under H.P. But u r eligible for deduction U/S 80GG if that flat is in another city and due to your employment u r not able to stay there. but if flat and your employment is in same city then u not get deduction.