Income from House Property

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Income from House Property
Query (Issue) Started By: - AJAY AGRAWAL Dated:- 2-8-2016 Last Reply Date:- 2-8-2016 Income Tax
Got 1 Reply
Income Tax
As per agreement monthly house rent is & .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... #8377; 10000/- & paid directly to land lord. In addition ₹ 2000/- Per month is paid by tenant to manager of society towards maintenance. Rent agreement has mention of these both amount. What amo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... unt is to be shown by land lord towards Income from House Property? Reply By Ganeshan Kalyani: The Reply: Sir, the maintenance amount should be included to call a income from house property. As per .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Sec. 24 of Income Tax Act, 1961 a standard deduction of 30% of Value is provided. Thus the maintenance amount would get covered under standard deduction. For ease of your reference I am reproducing th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e relevant extract of the provision as under: [ Deductions from income from house property. 24. Income chargeable under the head "Income from house property" shall be computed after making .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the following deductions, namely:- (a) a sum equal to thirty per cent of the annual value;.... Thanks.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X