Hi Sir,
Could one of yourself advise me on whether any tax benefits available to NRI on the first home loan taken from financial institution on the following points:
1) on principle / interest payment made on home loan and 2) on rental receipts received on renting out the property in India 3) Do I need to disclose the rental receipts recd as income in my e-filing.
Best Wishes - Sethuraman
Yes the NRI is entitled to deduction of interest on loan and principal.
Also the rental Income is taxable in india and tax is payable on the same.The rental income is liable to be disclosed in return of income.
Anuj
0-9810106211
| Originally posted by : CA. Anuj Gupta | ||
 |
Yes the NRI is entitled to deduction of interest on loan and principal. Also the rental Income is taxable in india and tax is payable on the same.The rental income is liable to be disclosed in return of income. Anuj 0-9810106211 |
 |
Agreed
CAclubindia
