IndiaInsurance
2nd October 2010, 05:54 AM
I have let out a house in Pune. Currently, I avail of a deduction of 30% on the rent. Would I get the benefit of standard deduction under the new Direct Taxes Code? Shiv Kumar As per the new Direct Taxes Code Bill, 2010, you will be entitled to a 20% deduction on the gross rent of the house, towards repairs and maintenance of the property. I am a senior consultant with a software company and invest around Rs 1,00,000 every year under various schemes like PPF, life insurance and EPF eligible under section 80C of the Income Tax Act, ...
More... (http://in.biz.yahoo.com/101001/50/bawbvr.html)
More... (http://in.biz.yahoo.com/101001/50/bawbvr.html)