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Question: Income Tax on Rental Properties in India for NRI?

I m a NRI and have a PAN Card from india ,also has a property which is rented .

Total Rental Income = 3,60,000 Rupees

Home Loan Intrest Payment= 1,40,000 Rupees
House Improvement = 40,000 Rupees
Renting Agent Commision= 15,000 Ruppes

I’m a Female, and this is the only income I have, I dont have any income in India as well as in other country where I m residing.

as per tax bracketts I should be eligible NOT To file taxes for this year.
because for woman your earned income should be more than 1,80,000 rupees.

Can some help me over here.

Thx.

Answer: * Home loan interest is allowed as deduction on Rs.1.4 lakhs

* House improvement is not allowed. Already there is a 30% standard deduction on rent. So Rs,40,000 is not allowed.

* Rental agents commission Rs.15,000 not allowed,

*Your income after disallowing 40,000+15000 is as follows:

3,60,000 is the rental income
1,08,000 Less 30% deduction for repairs and maintenance
———–
2,52,000
1,40,000 Less interest paid on housing loan
———–
1,12,000 Net taxable income. (No tax- below 1.8 lakhs.)
=======

The 30% deduction on rent is allowed even if you do not spend any amount on house repairs.

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