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Rent income from house property

pooja (taxpracticing) (233 Points)

24 September 2021  
hello sir,
my client having godown rent income as commercial property
....so 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 (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (2905 Points)
Replied 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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