It query for municipal taxes and two wheeler
This query is : Resolved
31 October 2021
Sir,
1.it assess ground floor used for business purposes ,let out to another business person and 1st floor used for own residence purpose.municipal taxes pay rs:10,150/-
2.assess purchase of two wheeler personal purposes value rs:65,000/- in f.y.19-20.
Question:
1.municipal total value rs:10,150 calim business expenses allowed in it act
2.two wheeler transfer personal purposes to business purposes allowed in it act .
1.it assess ground floor used for business purposes ,let out to another business person and 1st floor used for own residence purpose.municipal taxes pay rs:10,150/-
2.assess purchase of two wheeler personal purposes value rs:65,000/- in f.y.19-20.
Question:
1.municipal total value rs:10,150 calim business expenses allowed in it act
2.two wheeler transfer personal purposes to business purposes allowed in it act .
31 October 2021
1. Proportionate or 50% of the tax can be deducted from rental income.
2. If purchased in individual name, its difficult to get such deductions from IT officer.
2. If purchased in individual name, its difficult to get such deductions from IT officer.
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