Property tax

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Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2013 In which head property tax should be posted in accounting books?

CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Expert)
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14 February 2013 Under the Head "Income From House Property"

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2013 Whether it can be treated as business expenditure, if a businessman paid property tax out of business income?

CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Expert)
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14 February 2013 yes
If paid by tenant
if owner is claiming deduction
then it should be actully paid by him

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2013 if a manufacturing company/firm pay property tax in respect of business property owned by one of the director/partner, what should be accounting procedure? whether it can be consider as business expenditure & allowed for income tax purpose?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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17 August 2023 Yes, it is business expenditure when the property is used for any business activities.

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