I am NRI living in UK. I have 2 apartments in India, which are rented out since last 2 years. One apartment is in my name and the rent is 13 K and another apartment is in joint name with my wife and rent is 21K. I have been paying house tax on them. My question is, as a NRI do I need to file income tax return. if yes, what is the tax deduction. I do have PAN card. Thanks,
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Tax on rent
Replies (2)
YES,YOU HAVE TAXABLE INCOME IN THE HOUSE PROPERTY...YOU ARE REQUIRED TO PAY TAX IF THERE IS AGREEMENT BETWEEN TENANT & LANLORD....ALSO REQUIRED TO FILE ITR-2 U/S 139(1)
Agree with Vishal.
Further you can claim the following deduction from the house rent
1. Municiple tax paid
2. Standard deduction @ 30%
3. Interest on Loan u/s 24b
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