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Standard Deduction – Section 24a

Standard Deduction of 30% of Annual Value is allowed as deduction to every person.

Any type of expenses incurred by the assessee for acquiring, constructing, repairing, reconstructing, maintaining, renovation, renewal etc shall not be allowed as deduction.

Flat 30% of deduction shall be allowed irrespective of the expenses incurred by the assessee.

About Rohit Pithisaria

I am a Practising Chartered Accountant based in Jaipur, Rajasthan. Co-founder of TaxAdda.com and been in practice for more than 5 years. Have expertise in Income Tax and rendered our services to more than 2000 clients.
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