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An NRI’s domestic income from rental is liable to tax in India
Rental income from house property situated in India is liable to income-tax in India.
Rental income from house property situated in India is liable to income-tax in India. The method of computing taxable rental income is prescribed under the income-tax law as follows:
Gross annual value less municipal taxes give the net annual value (NAV). Reduce standard deduction of 30% of NAV and interest on housing loan from this, which will then be the taxable rental income.