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Standard deduction on rental income

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(Querist)
26 February 2024 Hello
I need to know whether standard deduction of 30% on rental income is applicable for a company renting out premises to a school/ college.
Kindly clarify. Thanks.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 February 2024 No, it's applicable only for residential house.
Claim depreciation and actual repair expenses.

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