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Income from house property

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(Querist)
16 October 2013 Deduction of Municipal Tax paid for future years is allowed ??
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Tushar Desai

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Tushar Desai (Expert)
16 October 2013 Yes, it is allowed
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@VaibhavJ

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@VaibhavJ (Expert)
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
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Ashish Verma

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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 !!
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CA Pallav Singhania

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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.
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Ganeshbabu K

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Ganeshbabu K (Expert)
17 October 2013 Yes, municipal taxes paid is allowed on payment basis
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@VaibhavJ

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@VaibhavJ (Expert)
17 October 2013 Thanks for COnfirmation!
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
17 October 2013 Agreed with Vaibhav that it is allowed on payment baisis.
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