04 December 2013
My prospective tenant wish to include in the rent amount, the maintenance charges also and pay to me (both in advance and also monthly rent). In turn I have to pay the maintenance charges to Society on his behalf . This will be mentioned in the lease agreement. In which case, please clarify whether for computation of rental income maintenance amount can be excluded? In this case maintenance amount is 25% of rental.
04 December 2013
no in my opinion you should offer 100% as rental income and claim deduction upto 30% against the rental income as permissible under the Act even if it sepearately documentated in lease agreement.
CAclubindia
