Municipal tax income tax exempt
This query is : Resolved
11 July 2012
Dear Sir,
I have paid Municipal Tax on 29.03.2012
Of Rs 63000/ for last three year.Can I deduct from Gross Total Income while submitting IT Return.AY 2012-13
For Self Occupied home
Regards
Arun R Dave
I have paid Municipal Tax on 29.03.2012
Of Rs 63000/ for last three year.Can I deduct from Gross Total Income while submitting IT Return.AY 2012-13
For Self Occupied home
Regards
Arun R Dave
11 July 2012
Gross annual value of Self occupied house will be Zero so Municipal tax deduction will not allowed in case of self occupied house...only Interest Deduction U/s 24B will be allowed.
GAV-Nil
MT-Nil
NAV-NIl
Standard Deduction-Nil
Interest-subject to limit of Rs 150000
GAV-Nil
MT-Nil
NAV-NIl
Standard Deduction-Nil
Interest-subject to limit of Rs 150000
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