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Rebate towards repair and maintenance of house

ALAK MAZUMDER (SENIOR MANAGER( PETROCHEMICALS-MKTG.)) (57 Points)

21 June 2011

1) what is the permissible rebate towards maintenance and repair on rental income of flat owned by an individual

and under what section of I.T.Act 1961?

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5 Replies

(Guest)

Section 24. 30% of net annual value

CA PARAS BAFNA (Practising CA ) (33423 Points)
Replied 21 June 2011

1. You can claim 30% on NAV as said by Kaushal Sir,

( NAV means Gross Annual Value ( or say Rent)- Municipal Taxes)

, even if you do not carry on any maintenance or repair activity.

2. If you take loan for repairs , then you can claim interest payable on accrual basis..

(Guest)

Well said paras sir, very nicely explained. It could not be explained better. Appreciate it.

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 22 June 2011

Originally posted by : Paras Bafna
	1. You can claim 30% on NAV as said by Kaushal Sir, ( NAV means Gross Annual Value ( or say Rent)- Municipal Taxes) , even if you do not carry on any maintenance or repair activity. 2. If you take loan for repairs , then you can claim interest payable on accrual basis..

good exlanation sir

Gerald Coil (3 Points)
Replied 05 September 2018

We began to do major repairs at home and when we got to the stairs, we began to look for where you can buy good handrails and found a store https://staircasedesign.xyz where you could order very beautiful handrails for the inside of the house and the porch.