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Sir, I want to pay income tax on rent received, please advise how to pay / mention rental income in income tax form. Whether I shall show the full amount or the balance amount after deducting 30% on account of maintenance. I am getting Rs 8000 p.m. from August onwards on my house for which I have taken loan from bank. Regards, asked Oct 15 '13 at 10:48 by sakiv1089 186●8●20●39 |
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You need to show balance amount after deducting 30% deduction, under income from house property. In case you only have income from one such property, return can be filed with ITR-1 else ITR-2 form has to be used. answered Oct 16 '13 at 12:23 by Pankaj Batra 5.2k●3●20 Thanks for prompt reply, I have only 1 house property but have exempted income more than 5000 from PPF so I understand I shall use ITR-2. This is as confirmed by you earlier to my queries.
(Oct 17 '13 at 11:27)
sakiv1089
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