Dear Respected Experts,
I have the following queries.
I have recently(2017) become a British national by Naturalisation. I have a property in the form of a Residential Flat in Mumbai which I bought in 2011 and now I got the Possesion certificate.
I now want to give it off for rent.
Please advice how I account for the refundable security deposite and the monthly rend? What income tax I hac=ve to pay and what documentation,receipts I have to provide to the tenant?
Also How I can get the Income tax exemption if any for the regular maintenance charges?
Do I have to pay GST on maintenance which is below Rs.5000/ month and society has not yet been build.
Thank you in advance.
Kind regards
Ambarish Sengupta
CAclubindia
