Poonawalla fincorps
Poonawalla fincorps

Building rent received by nri and taxabilty

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(Querist)
20 March 2014 An NRI who owns a Godown in India bought it for 2cr and gets rent from it approx Rs.60000/- what r the tax treatment? TDS and deduction and tax saving ideas
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
21 March 2014 1. The income is taxable under the head Income from House Property.

2. The assessee will get deduction of municipal rent and thereafter standard deduction of 30%.

3. He is also eligible for deduction in respect of repayment of housing loan.

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