There is flat inthe name of my wife.I had paid its 2/3 cost. It has now been let out and there is a rental income.
My querry is how the rental income is to be taxed??
shd it be divided in the ratio of amt invested ie 1/3 &2/3?
how to claim 30% or 30000 deduction available under section 24. should it also be in the ratio of investment.??
Menu
rental income
Replies (1)
(Legal) Owner should declare the rental income in her file for assessment.
Income from house property, is declared after claiming 30% standard deduction........ (being net off municipal taxes actually paid)
Recent Topics :
- Representative assessee
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
Related Topics :
CAclubindia
