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Income Tax for rented property

Tax queries 246 views 4 replies

I have rented my house  for this  i am getting rent  every month . i am  receving  rent through bank account  . i shown this income in my incometax  every year , due to Covid 19  . i totally  discounted  two months rent  for my Tenant , my doubt is  can i  less that  discounted rented  amounted  in my income tax  or i want to show  12 months rent in my income tax  for this year . kindly answer 

Replies (4)
Yes... You can less the discount rent in Your ITR.
Which section allows such deduction??
Actual rent can be reduced only in one scenario i.e. if property remain vacant. Under this situation property is occupied by the tenant.
No you can not get the Benefit of the Discount in Rent.. No such provisions enacted as Financial Measure by Ministry of Finance due to COVID-19.. You have to pay Tax for Full Year..

Expected Rent or Actual Rent whichever is HIGHER shall be taken for the purpose of computing Income from House Property 


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