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pooja (taxpracticing)     24 September 2021

Rent income from house property

hello sir,
my client having godown rent income as commercial property can he claim standard
deduction 30 % under House property...or not....or his income is taxable as other source income
please answer thank you

 1 Replies

Rama chary Rachakonda

Rama chary Rachakonda (Master in Accounts & Lawyer email voice no:9989324294)     24 September 2021


Yes. It is taxable.

Income from House Property Becomes Taxable If the Following Conditions Are Met: The house property comprises of the building and/or any land attached to itThe taxpayer is the owner of the propertyThe taxpayer should not use the house property to run any business or profession.

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