File your Income Tax Return on time to avoid interest and penalties. We can help you in filing your IT return and in better tax planning.
Our professional team can assist you not only in filing your tax returns but also for better tax planning and management for all types of income including salary, House property, capital gains (stocks and investments) etc. Starting from Rs 500/- only
The rent earned on the property owned by the assessee is taxable under the income tax Act. Hence, rent received will be treated under House Property Income only if you own the property under consideration (in some cases even deemed owners are considered as owners for the purpose of income tax). The property can be commercial or residential or jointly owned with others (in which case proportional amount is included for income tax purposes).
Income tax Act allows certain deductions from the rent earned like standard deduction of 30% (irrespective of actual expenditure incurred and is deemed to cover expenses like repair of property etc.), interest on home loan for acquisition, construction, renovation etc.
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