Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Query on income from house property

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

07 October 2011 mr.kapoor is the owner of a house in mumbai. it has been ley out for rs.100000. the tax paid by tenant to the muncipality amounted to rs. 15000. the landlord however, bears the following expenses on tenants amenitites under an agreement:
particulars rs
water charges 2000
lift maintenance 2000
salary of gardener 2400
lighting of stairs 1600

under which section and under which head the above given amenities will be allowed as a deduction

CA Satish Badve

CA Satish Badve (Expert)

07 October 2011 Mr. Kapoor will allowed to claim standard deduction 1/3 i.e. 30% of Annual value for all the exp.for repairs etc irrespective of amount spend. This is the mixx deduction for such exp.The allowance is under the head of Income from house property.
Mr. kapoor will not get deduction for muncipal taxes from Annual value as the amount is paid by the tenant and not by him.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now