Deduction for municipal taxes
This query is : Resolved
S.R.SEETHARAMAN
(Querist)
07 March 2009
Under section 24 Municipal / property taxes paid is allowable as deduction from income from House property.
Similarly under the service tax laws as per notification 24/2007 provides for deduction of municipal / property taxes paid is allowed as deduction for purposes of computing service tax payable.
Can an assessee claim both these deductions ? or as in the case of CENVAT on capital goods and depreciation , only one deduction is allowed either for service tax or under Income tax?
Similarly under the service tax laws as per notification 24/2007 provides for deduction of municipal / property taxes paid is allowed as deduction for purposes of computing service tax payable.
Can an assessee claim both these deductions ? or as in the case of CENVAT on capital goods and depreciation , only one deduction is allowed either for service tax or under Income tax?
CA Tilak Raj Sharma
(Expert)
07 March 2009
Both these deductions are separate. You can claim deductions both in service tax and in income tax.
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