Want to know Conversion Charges (a fee is being charged by Municipal Corporation of Delhi for properties located on those Notified roads which can be put to commercial use. This charge is separate from regular municipal taxes and its paid annually.) is dedutable from taxable income or rental income.
Apart from this if the house owner is providing services due to contratual obligations like full day guard (Chowkidar) and day time maid/servant for cleaning services (both are not a permanent employee as the house owner is not a company or business house).
Does both the expenditure can be deducted from Taxable Rent (after deducting 30% and Muncipal taxes) under section 57 and if not what section will be applied.
Since the house owner is a senior citizen and not running a company or business house, in that case is there a need to maintain documentary evidence of payment (in a form of receipt etc) for the payment made to Chowkidar and maid/servant. If no, then is there a limit on amout for which documentary evidence is not required etc.
Thnx in advance. -Rajiv
CAclubindia
