Rent maintenance

Hello,

Whether deduction is allowed to individual on expense incurred on maintenance of rented premises.

Replies (1)

It depends on income from rented premises, taxable under which head.

 

 

If taxable under House property:

Then deduction of Muncipal tax, Standard deduction of 30% and Interest of housing loan is available.

 

If taxable under Business & Profession:

Then dedcution of any Muncipal tax paid, Insurance, repair & maintaince etc, depriciation is allowed.

 

If taxable under Other Sources:

Then repair & maintaince, depriciation and any other expense incurred to such income is deductible.

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