House property
This query is : Resolved
15 January 2013
dear sir,
I did not paid municipal tax for last 5years & paid in this year...my question is whether i can deduct the whole amount of municipal tax (including past 5 years)?
Thankyou
I did not paid municipal tax for last 5years & paid in this year...my question is whether i can deduct the whole amount of municipal tax (including past 5 years)?
Thankyou
15 January 2013
In computing the Income from House Property any amount paid as Municipal tax should be allowed as deduction from House rent irrespective of the year for which it is concerned, in other words the amount actualy paid towards municipal tax will be allowed as deduction whether of the same year or of earlier years (Payment basis is followed.
regards,
Nilesh Gupta
regards,
Nilesh Gupta
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