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Ground rent

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Querist : Anonymous

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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?
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Amol S Joglekar

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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.
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Rupesh Jain

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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.
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Avinash Jeevan Dsouza

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Avinash Jeevan Dsouza (Expert)
19 April 2018 What is the rate of GST for ground rent? What is the HSN code for the same?
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