“land-nav”

real state

The Income Tax Act divides the income received by an individual into various sections to simplify the tax calculation. Income derived from a household property as rental income or through its transaction referred to as ‘income from the house property. It should be an overhanging structure with occupancy capacity. The building should be the most important part of the said property covering the land and the building. Income from house property = Standard deduction (30% of NAV) – Interest on bo