POSTED BY September 2, 2014 7:07 pm NO COMMENTSON
A landlord has rented out a flat for Rs. X per month. There is no separate payment of maintenance from the tenant to the society or the owner. The owner pays Rs. Y per month as maintenance to the society. Now, for the purpose of calculating the income tax, should the rental income be taken to be Rs X per month or Rs (X – Y) per month?
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