Menu
Annual value
deduction that are allowed from the annual value for computing income from house property
Replies (3)
Quick Summary
1 )Municipal Tax atuly paid in the previous year
2) Deduction. under section 24 of the Income Tax 1961 as applicable
please confirm with others also .
2) Deduction. under section 24 of the Income Tax 1961 as applicable
please confirm with others also .
| Originally posted by : Nidhi Kumari | ||
 |
deduction that are allowed from the annual value for computing income from house property |  |
1-Muncipal Tax paid during the previous year
2-and 30 % Standard Deduction under sec 24
3- Interest on borrowed capital
In case of let out of HP following deductions are allowed:
1) 30% of annual value
2) actual interest paid
3) Municipal taxes paid
In case of self occupied house property, deduction to the extent of Rs 2 lac is allowed.
Recent Topics :
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
Related Topics :
CAclubindia
