21 July 2018
Rental Income .....................................100 Less Repairs & Maintenance ............... 10 =============================== Gross Taxable Income ........................Rs 90 Less 30% exemption ...... Rs 27 -------------------------------------------------------- Balance Taxable Income Rs 63 ------------------------------------------------------- Respected Sirs, Please guide me and oblige.
Also please let me know as under which section repairs & maintenance exemption is allowed.
21 July 2018
TARIQUE RIZVI do you know .why the standard deduction 30% is given by govt ? this is given for the repair and maint expenses on buildings on presumptive basis. you cannot claim double relief .
CAclubindia
