04 August 2013
my mother who is a senior citizen has a rental income of 234000 in a.y.2013-14 apart from family pension of 64000.what is her tax liability&is any portion of rental income exempt from tax. urgency requested in view of last date tommorrow. thanks
04 August 2013
Rental income covered under Income from house property and deduction u/s.24a& 24b can be claimed. family pension taxable income from other sources and 1/3rd of the pension or Rs.15000 which ever is lower is exempted.