Income from house property
This query is : Resolved
Ashish Verma
(Querist)
16 October 2013
Deduction of Municipal Tax paid for future years is allowed ??
Tushar Desai
(Expert)
16 October 2013
Yes, it is allowed
16 October 2013
Hi
Muncipal tax is allowed on the payment basis in a year in which payment is made.
So it is allowed.
Thanks//VaibhavJ
Muncipal tax is allowed on the payment basis in a year in which payment is made.
So it is allowed.
Thanks//VaibhavJ
Ashish Verma
(Querist)
16 October 2013
But as per definition it is deducted only when it is levied and paid .. nd when we pay it for future it can't be called levied !!
CA Pallav Singhania
(Expert)
16 October 2013
Agree with Experts,
Such deduction is allowed only if the municipal taxes are borne and have been actually paid during the year by the owner of the property.
Taxes that are due but not paid are not allowed as a deduction. However, taxes paid during the year are allowed as a deduction even if they relate to past or future years.
Such deduction is allowed only if the municipal taxes are borne and have been actually paid during the year by the owner of the property.
Taxes that are due but not paid are not allowed as a deduction. However, taxes paid during the year are allowed as a deduction even if they relate to past or future years.
Ganeshbabu K
(Expert)
17 October 2013
Yes, municipal taxes paid is allowed on payment basis
17 October 2013
Agreed with Vaibhav that it is allowed on payment baisis.
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
- Nursery business
- Tax on Amount transferred in HUF Account
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Intimation under section 245
- ETDS return q4 25-26
- Section 269ST applicability for capital introduced by partner to his partnership firm
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
