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
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
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
OM SAI SRI SAI JAI JAI SAI
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