Income from house property
This query is : Resolved
30 March 2012
If I have rental income from property given on commercial use.. Income is Rs. 100000/- per month i.e. Rs. 12 Lacs per annum, then
Do I get the standard deduction of 30% u/s 24A?
Do I get the standard deduction of 30% u/s 24A?
30 March 2012
Yes you are eligible for deduction u/s 24. you are eligible for deduction in respect of interest on loan, if any, paid in respect of such property.
30 March 2012
yes, you can claim standard deduction u/s 24a. Provided property should be house even given for commercial use or otherwise.
30 March 2012
Agree with Expert.
Here you need to charge Service Tax also upon the rented premises.
Thanks
Mihir Doshi
Here you need to charge Service Tax also upon the rented premises.
Thanks
Mihir Doshi
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