Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2012 Hi Experts

I have recently brought a house property. My buidling is getting major repair works where every month i am spending over and above maintenance amount for repairing work. I wish to understand whether the same is deductible under income tax. Further deductibility of property tax under IT act.

Thanks

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

23 April 2012 If it is let out property then property tax paid by the owner will be deduct from the ALV and the standered deduction of 30% on ALV after deduction of property tax will be deductable other wise you can't avail such deduction and it is like personal expenditure.

OM SAI SRI SAI JAI JAI SAI

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok