Section 24 of the Income Tax Act | Income from House Property | Standard Deductions
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Section 24 of the Income Tax Act | Income from House Property | Standard Deductions
There are three possible scenarios wherein income from house property can occur: Housing income by way of rent, the annual value of the property which is considered “deemed to be let out” for income tax purposes; and the annual value of the property which is self-occupied. A standard deduction rate of 30% is applicable on the Net Annual ...
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