House property
This query is : Resolved
30 January 2013
I have 1 house in which some portion i used for personal use & some portion of house given for rent.
i have paid property tax. what portion of Property Tax is allowed against the income earned from rent of house under "Income form House Property.
i have paid property tax. what portion of Property Tax is allowed against the income earned from rent of house under "Income form House Property.
30 January 2013
it should allowed on proportionate basis
e.g. property tax paid = rs 10,000
ration of use of house = 1:1
then property tax allowed is rs 5,000
e.g. property tax paid = rs 10,000
ration of use of house = 1:1
then property tax allowed is rs 5,000
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30 January 2013
I agree with Kunal. The Property Tax allowed would be proportionate to the area given on rent!
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