Do we have to pay tax on deemed income for rent?- Proeprty hotline
August 25, 2016
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1:51Now PlayingDo we have to pay tax on deemed income for rent?- Proeprty hotline
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as posted by the channelExpert: Suresh Surana, Founder of RSM Astute Consulting.
Question: I have a second home which is not occupied. Will I have to pay tax on deemed income for rent?
Answer: Second apartment shall be treated as deemed to be let out and the notional rent shall be subject to tax. Standard deduction of 30% from the notional rent will be available. Deduction for interest on housing loan can be available without any limit.
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