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How is rental income from ones property treated for the purpose of taxation?

April 26, 2017income Property purpose rental Taxation treated

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How is rental income from ones property treated for the purpose of taxation?

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Rental income has to be taxed under the head ‘income from house property’. Deductions are available under Section 23 and 24 of the Act. It may be noted that a deduction is available for repairs whether incurred or not. Actual expenses are deductible excepting for municipal rate.