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PLANNING FOR RENTAL INCOME!

30% standard deduction & unlimited deduction for interest on loan are attractive tax incentives for earning rent!     The income from house property for purposes of income tax is based on the ‘annual value’ of the property. The Annual Value (AV) of a let-out property is determined on the basis of the following: The fair rental value of the property, not exceeding the standard rent determined or determinable...

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