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Rental income - overseas

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(Querist)
02 August 2012 My client is now resident Indian. Has Rental Income in USA.

Whether the standard deduction of Rental Income is applicable in this case also

or

The expenses are to be deducted for the computation of rental income to be mentioned in ITR
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Amol S Joglekar

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Amol S Joglekar (Expert)
02 August 2012 Yes, the 30% deduction is applicable.
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
02 August 2012 Dear Friend, All income of resident will be taxed in India. Now in your case total deduction will be available 30% plus taxes he has paid to local authority as applicable. Thanks
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Rakesh Sharma

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Rakesh Sharma (Querist)
02 August 2012 Thanks Mr. Joglekar and Mr Deepak Pratap Singh

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