Machinery rent

machinery rental income
standerd deduction 30% is available or not when make a income tax filing
Replies (3)
Quick Summary
Machinery rental income is classified as 'income from other sources' for tax purposes, not 'income from house property'. Consequently, the standard 30% deduction typically available for property income is not applicable here. However, you may still be eligible to claim depreciation on the machinery.

Machinery rent can't be treated as income from house property
IFOS.... No standard deduction allowed..
Machinery rental lncome is a income from other sources. No standard deduction will be available. However you are eligible for Depreciation

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