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Income Tax on Rental Income: How Much Rent is Tax Free?
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Quick Summary
There is little addition to it .... PROVIDED YOU DO NOT HAVE ANY OTHER INCOME CHARGEABLE TO INCOME TAX ACT.
If you have salary income, and if your total taxable income is above Rs. 2.50 lakhs, you need to pay IT.
Dont test the rental income alone to the exemption limit of 2.5 lacs. you must take all your incomes.
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