Rental income declaration period has begun

Denizli Provincial Treasurer Mustafa Özdemirci stated that the declaration process for those earning rental income from residences and workplaces began as of March 1, noting, "Our citizens can easily create their declarations by logging into the 'Ready Declaration System' (Hazır Beyan Sistemi) via the www.gib.gov.tr website. Taxes on declared rental income will be paid in two installments in March and July," he said.

Özdemirci reminded that a 33 thousand lira income tax exemption is applied to residential rental income for 2024, adding, "There is no need to file a declaration for income below this threshold."

BEWARE OF INCORRECT SMS NOTIFICATIONS

Denizli Provincial Treasurer Mustafa Özdemirci also provided information regarding the incorrect notifications that have recently come to the fore. Stating that messages have been sent to citizens claiming that EFTs received in their accounts were evaluated as rental income, Özdemirci said, "Due to senders selecting the wrong transaction type in money transfers made through banks or erroneous notifications by banks, some payments may be recorded as rental payments. For this reason, taxpayers who do not actually earn rental income but have received an SMS do not need to worry," he said.

News Source: İHA