I TAKEN A SPACE ON RENT IN PVT. LTD. COMPANY
ANNUAL RENT PAID IS RS. 2,40,000/-
BUT SOME PORTION IS LET-OUT ON RENT
ANNUAL RENT RECEIVED IS RS. 2,80,000/-
WHAT IS BASIS OF TAX CALCULATE ON THE INCOME OF 40,000/- (REBATE 30% IS ALLOWED OR NOT?)
Menu
Tax calculation on rent received
Replies (3)
its not house property for you, so it would be normal income and would be added to tax slab normally
agree..taxable at slab rates
Rs 280000 taxable under the head "income from other sources" and u can take deduction of rent payment of Rs 240000 from ur business income.
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
