Income from property

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32 Points Posted on 08 May 2023

If licensee pay the flat maintaince to the society so whether the standard deduction of 30 percent allowable to licensors from rental income recd from licensee 

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On 08 May 2023 at 19:34 Report
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This discussion clarifies whether licensors can claim the standard 30% deduction on rental income when licensees pay flat maintenance fees. The answer is yes, provided the leave and license agreement includes a specific clause allowing for this. It's important to note that the agreement cannot override the governing Act when assessing income from house property.

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SEO Sai Gr. Hosp.
212535 Points Posted on 08 May 2023

Yes, subject to the specific clause incorporated in leave & license agreement.

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On 08 May 2023 at 20:32
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Profession
28271 Points Posted on 14 May 2023
Leave and license agreement is not an absolute clause superseding the Act in assessing the income from house property.
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On 14 May 2023 at 10:14

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