About this document
Taxation and Deductions on Rental Income by Kristen Hunt is a document available to read on EtoBox.
The document discusses taxation of rent received and deductions available under Indian income tax law. It states that rental income from property is taxed under the "Income from house property" head. The property is taxed based on its annual value, using either the actual rent received or potential market rent. Standard deductions of 30% of annual value and interest payments on property loans can be claimed to arrive at taxable income. However, a proposed new limit of Rs. 2 lakhs for losses that can be set
- Author
- Kristen Hunt
- Language
- EN