Income tax deduction of rent income

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Accounts Manager
183 Points Posted on 20 July 2023

I have a rent income from House Property which I added in my income. But I spent some amount for repairs of the same property. Can I deduct these expenses from My rent income while filing I T Return

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On 20 July 2023 at 18:49 Report
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Quick Summary
When filing your Income Tax Return, you can't directly deduct repair expenses from your rental income. However, a standard deduction of 30% is allowed under Section 24. This covers most repair and maintenance costs associated with the property.

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SEO Sai Gr. Hosp.
212503 Points Posted on 20 July 2023

NO. NOT ALLOWED EXCEPT STANDARD DEDUCTION OF 30% UNDER SEC. 24.

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On 20 July 2023 at 19:59
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Profession
28261 Points Posted on 20 July 2023
Sec 10(13A) rule 2A
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On 20 July 2023 at 22:56

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