Rent Received

Tax Glossary Definition

Rent Received

Rent received refers to income earned from letting out property, such as residential or commercial real estate. This income is taxable under the head “Income from House Property” after allowing permissible deductions like municipal taxes paid, standard deduction, and interest on borrowed capital.

Example: Annual rent of ₹2 lakh received from a property is taxable under Income from House Property.

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