The property is owned by the assessee & hence taxable under the head HP.
Is there any other concession other than concession u/s.24 for leased out property???
1 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 10 March 2012
The assessee wud get a deduction of the Municipal Taxes paid agaisnt the property leased out from the Gross Rent received. On the Net Rent after deducion of taxes, Std deducion of 30% & decution on account of interest paid on loan for the property could be availed.
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