Dear All,
Is maintenance paid for let out house property allowable as deduction or is covered under the standard deduction of 30% u/s 24(b)?
9 Replies
CA Diwanshu Rajpurohit
(Asst. Manager)
(28 Points)
Replied 25 March 2014
There is Mainly two type of Deductions are allowed from income from house property. one is interest and second is standard deduction.
so i can say all other exp like maintainence exp etc. are already included in Std. Deduction.
nikita
(lpcc student)
(29 Points)
Replied 26 March 2014
Any expenses related to repairs n maintainance of HP are covered in std deduction 30%. These exp. are not seperately deducted.
Ashok Timalsina
(Student)
(22 Points)
Replied 27 March 2014
All expenses other than (a) local authority taxes actually paid during the previous year and (b) interest due are covered by standard deduction (30% of net annual value) u/s 24(a).
Hence, no deduction shall be allowed for such expenses.
CA R SEETHARAMAN
(CA Practice )
(145997 Points)
Replied 03 April 2014
If it is monthly maintenance charges paid to the society for the maintenance of common area the rental income should be net of such maintenance.
CA R SEETHARAMAN
(CA Practice )
(145997 Points)
Replied 03 April 2014
If it is monthly maintenance charges paid to the society for the maintenance of common area the rental income should be net of such maintenance.
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