is House Tax exempted from Income tax
This query is : Resolved
19 March 2009
as i have already paid tax on house, i strongly feel this figure should get some value in my Tax filing.
i have one flat, in which no body is staying currently, recently i paid Rs.8000 as house tax there , i m also having loan on this flat, for which i m getting exemption on Principal and interest components.
I want to know , if there is any section under which , the house tax , to be mentioned and i get exemption on it ??
i have one flat, in which no body is staying currently, recently i paid Rs.8000 as house tax there , i m also having loan on this flat, for which i m getting exemption on Principal and interest components.
I want to know , if there is any section under which , the house tax , to be mentioned and i get exemption on it ??
19 March 2009
You can only get the deduction of Municipal Taxes levied. I believe it is Municiapl taxes only, if so you can deduct it from your GAV (if deemed to be let out), otherwise not.
19 March 2009
i support Mr. Kasat
19 March 2009
thanks for ur replies,
yes, this is a municipal tax,
i have no plans to Let out my house, Can i still ask for exemption ?
in any case, Can u also let me know , wat section , it gets into?
yes, this is a municipal tax,
i have no plans to Let out my house, Can i still ask for exemption ?
in any case, Can u also let me know , wat section , it gets into?
22 March 2009
if you have no plan to let your house you can't claim exemption for munciple tax from IFHP.
however if the house is used by you for business or profession munciple tax iis allowable exp.
however if the house is used by you for business or profession munciple tax iis allowable exp.
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
- Fixe term employment
- Is any professional CA is here please reply
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
