Nri tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2012 My client is non resident Indian he has a property in India he has let out to the company and company has deducted tax at source, whether he can claim benefit of basic exemption limit and can claim benefit of 30% deduction under section 24 (a) for repairs and maintenance of property.
Do the needful

Vishal D Shah

Vishal D Shah (Expert)
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01 August 2012 yes benefit is available for basic exemption upto 180000 for AY 2012-13. Also 30% deduction is available.

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2012 Thank You Boss,can be take the benefit of this exemption for financial year 2010-11

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Vishal D Shah

Vishal D Shah (Expert)
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01 August 2012 Yea. It is available

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2012 Sir , whether this income from property is treated as income from other sources or income from house property (it is commercial property), and can claim benefit of 30 % deduction ?

Vishal D Shah

Vishal D Shah (Expert)
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20 August 2012 Yes. It is immaterial whether you are earning rent from residential or commercial property. Income from house property

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2012 Thanks sir