Mumbai Flat Owner Earns Rs 17 Lakh Rent, Pays Zero Tax: Here's How

• A Mumbai flat owner earned Rs 17 lakh in rental income but paid no tax, utilizing a 30% standard deduction.
• The strategy involved registering the flat under the wife's name, who had no other significant income.
• Under the new tax regime, a 30% standard deduction on Rs 17 lakh rent reduces taxable income to Rs 11.9 lakh.
• Section 87A rebate makes income up to Rs 12 lakh tax-free in the new regime, resulting in zero tax payable.
• Key conditions include genuine property ownership, rent deposited in the owner's account, and consistent funding/documentation.