I receive 45000 per month rent for a residential rental property which also includes 10000 of society maintenance charges. I pay maintenance for the society. Can I consider 35000 as rent for tax purposes and report it on my returns, or I need to report 45000? In the rental agreement it is specified that rent includes maintenance.
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Tax clarification on rental income
Replies (2)
Quick Summary
Unless specifically specied in agreeement; rent liability would be over Rs. 45,000/-
Stick to the leave and license agreement.
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