29 December 2016
A House property holder leady earn Rs. 125000-150000 per year as rent. Is the income from property is included in is husband income or not. She wants to makes PAN card for Investment in Mutual funds. What is exemtion limit of income from House rent?? Help me!!
29 December 2016
Income from HP will b clubbed with all other income(Salary, PGBP, CG and other sources) of the assessee, and then taxed accordingly as per slab rate. The exemption limit is 2.5 lakhs. The property income will b taxed in the hands of the assessee, whose name is registered for the property.
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