Deduction of municipal taxes against rent income

437 views
User Avatar

Audit Assisstant & Accounts Manager
379 Points Posted on 22 March 2014

Hello everybody,

Could anybody please guide on whether payment of municipal taxes are deductible from the rent derived from letting terrace of a building in a co-operative housing society for erection of mobile tower?  If yes, then whether whole or proportionate amount is deductible? How to decide such proportion?  if not, then why?

 

Thanks in advance

0 Reply Share Follow Topic
On 22 March 2014 at 17:22 Report
Replies (3)
User Avatar

Head Of Department (Accounts & Finance)
1272 Points Posted on 22 March 2014
Dear Mohan yes municipal taxes will be allowed in this case. You can take proportion of it say, if taxes is 1000 paid on house property and building is of 4floor then divide the amount and take 250 as municipal taxes for terrace. I hope answer is clear. Regards
Reply
On 22 March 2014 at 17:31
User Avatar

Audit Assisstant & Accounts Manager
379 Points Posted on 22 March 2014

Thanks for reply, but is there any supporting case law/judicial pronouncement for this?  Because someone has advised that such deduction is not allowable in this case.

Reply
On 22 March 2014 at 17:42
User Avatar

Head Of Department (Accounts & Finance)
1272 Points Posted on 22 March 2014
No Mohan it is allowed as the property tax is paid for entire building and hence can claim it. Regards.
Reply
On 22 March 2014 at 17:45

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Gst input credit
  2. CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
  3. E-waybill
  4. Sell of CAFC books
  5. ITC ON RENT
  6. GSTR-9 Table 8A Portal and Excel Issues
  7. IGST on Commercial Rental Income (Different State)
  8. Revocation of suo moto cancelled GST registration
  9. Is there any faculty taking chapterwise test in CA
  10. Late Fees and Interest

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details