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?

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 Yes, u can claim deduction equal to 30% u/s 24(a).

30 March 2012 Agree with Expert.

Here you need to charge Service Tax also upon the rented premises.

Thanks
Mihir Doshi



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