05 March 2009
An assessee registered under service tax law for 'Renting of Immovable Properties' is eligible to get a deduction for the property tax paid on the property. My question is for the same property the income of which is included under income from House property, whether the assessee would be eligible to deduct the prperty tax paid for computing Income tax on income from House property?
06 March 2009
No he can't. if income is chargeable under House Property than section 22 to 27 will come to play. Which specifically allow only two substraction from Income ie. Municipal taxes paid of Section 24(a & b). I am not agreed with opinion as their are specific case laws for the same.
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