Rental income

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7 Points Posted on 15 May 2019
Is Rental income under 1lac p.a. taxable?
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On 15 May 2019 at 19:46 Report
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Practicing CA
7756 Points Posted on 15 May 2019

rental income is taxable and you have to disclose in ITR, But tax liability will be depend on your total income 

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On 15 May 2019 at 19:54
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7 Points Posted on 17 May 2019
how can we show rental income deducting maintanance amount ?
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On 17 May 2019 at 21:40
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Partner at N. Gamadia & Co.
363 Points Posted on 18 May 2019

Maintenance cannot be claimed as expense from rental income, however you get 30% standard deduction from the rental income.

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On 18 May 2019 at 14:48
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7 Points Posted on 19 May 2019
If i am in 20% slab , i have to pay 20% tax on rental income even if it is under 1 lac?
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On 19 May 2019 at 10:04
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Partner at N. Gamadia & Co.
363 Points Posted on 19 May 2019
Yes you have to
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On 19 May 2019 at 10:05

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