Hai,
If an assessee has paid property tax of Rs.30000 for the year 2011 in may, 2012 and Rs.35000 for the year 2012 in december, 2012 and Rs.20000 for the year 2013 in february, 2013. Here the question is can he claim the entire property tax of Rs.85000 paid in the FY: 2012-13 as deduction under income from house property or not?
Please reply as early as possible.
Yes,It is allowed only on payment basis and provided the house property should be on rental basis.If it is self-occupied,no payment will be allowed as a deduction
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