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Discussion > Income Tax > Tax queries >

Income from house property

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Article Assistant

[ Scorecard : 68]
Posted On 31 May 2012 at 13:43 Report Abuse

Whether municipal taxes under income from house property includes PROPERTY TAX? 

 

If an assessee gives property tax whether it will be deducted while computing income from house property? 



Giridhar S Karandikar
Team Lead

[ Scorecard : 2745]
Posted On 31 May 2012 at 13:57

Yes Municipal taxes means property tax.  You get the deduction of the this tax paid,  only if your property is let-out during the F.Y.  In case of SOP no deduction is allowable




Mukesh Kumar Rawal
Chartered Accountant

[ Scorecard : 73]
Posted On 31 May 2012 at 14:08

Agrree with Mr. Giridhar



GANESHAN
CA-Article

[ Scorecard : 381]
Posted On 31 May 2012 at 14:09

yes u can get deduction of Municiple tax / Property tax on the basis of tax paid only by owner of property..

 



Ashutosh
Article Assistant

[ Scorecard : 68]
Posted On 31 May 2012 at 14:49

Thanks for the reply...

From where i would get a further affirmation? Is there any case law supporting the contentioon that property tax and municipal tax are same? 



Prateek Agarwal
Sr. Executive - Finance & Accounts

[ Scorecard : 1724]
Posted On 31 May 2012 at 15:47

They are the same thing...There may be a bifurcation between water tax etc. but property tax and municipal taxes are the same thing.

Hence, it is claimable for your let out property.



Member (Account Deleted)
CA Student

[ Scorecard : 94]
Posted On 31 May 2012 at 18:58

YES. PROPERTY TAXES AND MUNICIPAL TAXES ARE THE SAME. mail



K Ganesan
AGM(Fin)

[ Scorecard : 21]
Posted On 01 June 2012 at 06:13

Can the Municipal Corporation(Gurgaon) charge Municipal Tax with retrospective effect.Also the aera in question

is maintained by another state Govt agency called Haryana Urban Development authority.Kindly clarify.

Regds.K Ganesan,Gurgaon.



Dixit Shah
Articleship

[ Scorecard : 286]
Posted On 01 June 2012 at 10:54

Property Tax is part of  Municipal Taxes.

So while computing IFHP. u/s 23(1) , You can get deduction when it is actually paid.



Ankit
Articles

[ Scorecard : 376]
Posted On 01 June 2012 at 11:56

Yeah ,they both are the same.


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