One of my friend will be getting the rent of her property for the FY 2012 - 13 for Rs.236000/-. I want to know if any tax is payable by her if she has no other income source. Kindly advice me on this.
1 Answers
If total rents received by her is Rs 2.36 lakh, 30% of this amount is allowed for deduction towards maintenance of house. So taxable income would only be 1.652 lakh. Now as this income is below taxable limits, she need not to pay any taxes, provided she does not have any other income.
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