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?
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Income From House Property
Replies (5)
s. u have to show it as IFHP
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.
Yes, the rental income forms part of your income from house property. The income needs to be calculated as specified.
yes, u have to show the rent received from owned house as income from HP.
| Originally posted by : amit kanani | ||
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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. |
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Dear Friend
Agree with him but deduction not available u/s 80GG. its rent free accomodation or HRA. in this case its Rent Free Accomodation.
your income will be charged under Income under House Property and you have to file ITR -2 for Income Tax Return.
Regards
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