Krishna (Manager - Genesis Tax Consultant) (531 Points)
10 April 2020
Manav Soneji
(other)
(338 Points)
Replied 10 April 2020
No. For rented income only flat deduction of 30% is allowed under sec. 24(b) of I T act.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 10 April 2020
ANY other expenses other than Municipal Taxes and Interest on Borrowed Funds are NOT allowed.
AS the standard deduction @ 30 % flat is allowed u/s 24(a) of GAV then any other expenses whatever the name called is not allowed as deduction .
In your case , such expense is not allowed .
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 11 April 2020
CAclubindia
