Income chargeable to tax under the head “Income from house property” in the case of a let-out property is computed in the following manner:
| Particulars | Amount |
| Gross annual value | XXX |
| Less:- Municipal taxes paid during the year | XXX |
| Net Annual Value (NAV) | XXX |
| Less:- Deduction under section 24 | |
| -Deduction under section 24(a)) at 30% of NAV -Deduction under section 24(b)) on account of interest on borrowed capital | (XXX) (XXX) |
| Income from house property | XXX |
[email-subscribers namefield=”YES” desc=”” group=”Public”]
RAJASTHAN AAR CLARIFIES 18% GST ON MINING ROYALTY PAID TO STATE GOVERNMENT RAJASTHAN AUTHORITY FOR…
SUPREME COURT UPHOLDS VALIDITY OF LEVY GST ON LOTTERIES: SKILL LOTTO SOLUTIONS PVT LTD vs…
SUPREME COURT UPHOLDS THE VALIDITY OF ARREST PROVISIONS UNDER CUSTOM AND GST ACT: RADHIKA AGARWAL…
SUPREME COURT CLARIFIES DEPRECIATION ON NON-COMPETE FEE U/S 32(1)(ii) OF INCOME TAX ACT REPORTBALE SUPREME…
Supreme Court issues directions for Cataloguing witnesses and documentary evidences in Criminal Trial: Manojbhai Jethabhai…
Head Office Expenditure of Non-Resident Companies in Relation to Indian Business Subject to the Deduction…