Taxation on lease rent

nitin (professional) (83 Points)

18 April 2014  

Experts please advice......

The employee is provided with a company leased accomodation.

Q1. Does the lessor get 30% standand deduction benefit (as in case of income of house rent) while calculating his income?

Q2. The company is deducting flat 10% tds on the monthly lease rent, Is it according to the rules ( as the property is not for commertial purpose but for housing accomodation) ?

Q3. Can the lessor submit investment proof(under section 80C) to the company so that the TDS on the lessor income can be reduced?(Can you suggest any other method to reduce TDS?)