While real estate as an investment may have its challenges in terms of liquidity and high capital requirement, rental income can complement one's salary.
However, rental income is taxed at the individual's slab rate. But there are deductions available on rental income for individuals who choose to stick with the old tax regime.
If you are in receipt of rental income, you can first get a deduction on municipal taxes. Then on the balance, there is a standard deduction of 30%, which accounts for repairs, maintenance and all other expenses.
This story is from the December 12, 2024 edition of Hindustan Times Patna.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 12, 2024 edition of Hindustan Times Patna.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
From chaos to contenders: Maresca causing the turnaround for Chelsea
\"No matter how many games we are going to win, I think we are not ready to compete for the title.\" That was Enzo Maresca after Chelsea beat Brentford 2-1 and moved to second in the Premier League, two points behind Liverpool who have a game in hand.
Atletico snatch late win at Barcelona to top La Liga
Atletico Madrid came from behind to snatch a last-gasp 2-1 victory over Barcelona and claim leadership of La Liga on Saturday.
IPO boom: Record ₹1.6 lakh crore raised in 2024
Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record ₹1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
Good opportunity in chip fabrication in India, says Canon CEO
Japanese imaging and optical products major Canon believes that it has a good opportunity in India for its semiconductor lithography equipment required for chip fabrication, and it is in negotiations with companies setting up facilities here, said its India President and CEO Toshiaki Nomura.
Akasa Air expects to add a few more planes this fiscal
Akasa Air is in continuous discussions with Boeing on aircraft deliveries and expects to add a few more planes to its fleet in the current fiscal ending March 2025, the airline's chief Vinay Dube has said.
LEATHER EXPORTS LIKELY TO GROW OVER 12% IN FY25: CLE
The country's leather and footwear exports are expected to grow by over 12% to $5.3 billion in the current financial year on account of healthy demand in key global markets, CLE chairman Rajendra Kumar Jalan has said.
CII seeks reforms in priority sector lending framework
PRIORITY SECTOR LENDING IS AIMED AT ENSURING THAT KEY SECTORS CRUCIAL TO DEVELOPMENT GET ADEQUATE FINANCIAL SUPPORT
FPIs PULL OUT EQUITIES WORTH ₹976 CR LAST WEEK
After two weeks of buying, FPIs turned net sellers in Indian equities in the week ending December 20, with a net withdrawal of ₹976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Govt to infuse ₹500 cr in IFCI for financial revival
The funding will further increase govt holding in the firm from existing 71.72%
Front-running case: Sebi bans 9 entities from mkt
Markets regulator Sebi has uncovered a front-running scheme involving PNB MetLife India Insurance Company equity dealer Sachin Bakul Dagli and eight other entities, who generated illegal gains of ₹21.16 crore.
