Home > Income Tax > House Property > Standard Deduction – Section 24a

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

Rohit Pithisaria founded TaxAdda in July 2012. He is Practicing Chartered Accountant from Jaipur and been in practice for more than 7 years. He is actively writing from very beginning of his professional career and is author of various tax articles and blogs.

GST & Income Tax Fortnightly Magazine for CA/Tax Practitioners

Remain updated with latest laws
 
Subscribe Now
close-link