Rental income - overseas
This query is : Resolved
02 August 2012
My client is now resident Indian. Has Rental Income in USA.
Whether the standard deduction of Rental Income is applicable in this case also
or
The expenses are to be deducted for the computation of rental income to be mentioned in ITR
Whether the standard deduction of Rental Income is applicable in this case also
or
The expenses are to be deducted for the computation of rental income to be mentioned in ITR
02 August 2012
Yes, the 30% deduction is applicable.
02 August 2012
Dear Friend, All income of resident will be taxed in India. Now in your case total deduction will be available 30% plus taxes he has paid to local authority as applicable. Thanks
02 August 2012
Thanks Mr. Joglekar and Mr Deepak Pratap Singh
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
