I am having a industrial property which i have given on rent with the rent of Rs. 8.40 per annum. I want to know whether i can get standard deduction of 30% on rent income which we are getting in house property?
Menu
Standard deduction on rent income
Replies (5)
yes you can claim 30% standered deduction.
Because law given fixed percentage of deduction on account of repair and maint. and other related expenses irrespective of actual expenditure.
you must claim it ............US 24. irrespective of nature of property and amount of rent.
yes 30% deduction can be claimed under Income from House property
I had given my place on rent for 3 months and the rental for those 3 months is Rs. 5 lacs.
Can i claim 30 % of the Rs 5 lacs (less property tax) or should this be done pro-rata for the 3 months?
kishore ji , claim standard deduction of 30% on Net Annual Value which in your case is Rs 5 lacs (less property tax) . not required to calculate on prorata basis.
Recent Threads
- Section 54 exmeption on under construction propert
- Taking too long to process ITR-2
- RCM or not
- AIS NOT OPEN
- ICICI BHARAT 22 FOF AND NASDAQ 100 FOF CAP GAIN TA
- Schdule BFLA and CFL Error regarding adjustment of
- CIRCULAR WITH RESPECT TO WAIVER OF INCOME TAX OUTS
- How does opting for 44AD impact speculative income
- New GSTR 1
- Purchase and sale of land , showroom, building
Related Threads
CAclubindia
