Ground rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2015
What is meaning of Ground Rent under Income from house property? & why it's deductible from gross annul value?
Amol S Joglekar
(Expert)
14 January 2015
In good old days, especially with respect to plot owners' society, the rent for the plot...called as ground rent used to be paid by the member to the society...
A corresponding deduction is, therefore, given in Income Tax Act.
A corresponding deduction is, therefore, given in Income Tax Act.
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Rupesh Jain
(Expert)
14 January 2015
it is not in today, when local corporation, or municipal corp. collet the rent from the owner of the land.
like in open land give to haat bazar then corporation collect the charges from the owner.
and also society collect from the members.
like in open land give to haat bazar then corporation collect the charges from the owner.
and also society collect from the members.
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19 April 2018
What is the rate of GST for ground rent? What is the HSN code for the same?
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