Rent for. house in dubai
This query is : Open
09 August 2017
Hi I want to buy a house in Dubai and will be taking home finance for the same. I want to give it on rent for a few years ro pay the emi. Whatever rental income I get will go to the bank . Will I be taxed on that income. I work and live in india. I am a resident.
09 August 2017
Income arising in and out of India is taxable in case of resident. Therefore the income from your dubai property will be taxable.
09 August 2017
Interest on home loan you pay on such property will also be tax deductible if there's a documentary evidence for the interest paid
09 August 2017
Principal repayment will be deductible under 80c only if the loan is from Indian institutions.
09 August 2017
You have to show the income earned from such property , interest paid etc while filing your income tax return in India.
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