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Income from house property

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(Querist)
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?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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.
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
30 March 2012 yes, you can claim standard deduction u/s 24a. Provided property should be house even given for commercial use or otherwise.
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N.J.R

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N.J.R (Expert)
30 March 2012 Yes, u can claim deduction equal to 30% u/s 24(a).
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Mihir Doshi

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Mihir Doshi (Expert)
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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