House property income
This query is : Resolved
03 November 2014
AN ASSESSEE HAS RECEIVED A RENTAL INCOME FROM HOUSE PROPERTY DURING F/YEAR 2013-2014 SAY Rs.50,000/- BUT HE HAS PAID MUNICIPAL TAXES INCLUDING ARREARS Rs.60,000/-DURING THE YEAR 2013-2014. CAN WE CLAIM LOSS FROM HOUSE PROPERTY FOR Rs.10000/- AND ADJUST THE SAME FROM FROM OTHER INCOMES.
22 November 2014
As per Section 23 of the Income Tax Act municipal taxes are allowed as a deduction in the year in which they are actually PAID.
So you can claim deduction of municipal taxes amounting to Rs. 60,000/- in the FY 2013-14
So you can claim deduction of municipal taxes amounting to Rs. 60,000/- in the FY 2013-14
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Liable to deduct tds and 44ADA
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
