House/property tax for rented flat in Ghaziabad

It is assumend that the Property is vacant for the part year. Where the let out Property is vacant for part of the year, then the actual rent is lower than ALV, then the actual rent received or receivable will be the Gross Annual Value of the Property.

For Eg: If the monthly rent is Rs. 5000, then the annual value of the Property will be Rs. 60000, but if it is vacant for 3 months, then the rent received / receivable will be Rs. Rs. 45000. Municiapl Tax paid Rs. 2000. 

Therefore,

GAV                                                                                                  45000

Less : Municipal Taxes                                                                  2000

Net Annual value                                                                           43000

Less : Stanadard Deduction @ 30% as per sec 24              12900       

(30% of Rs. 43000)

Income from House property                                                       30100

Note:

1) You can also claim the Interest on Loan taken for construction / purchase of the House Property.

2) Municipal Taxes to be paid only if it is paid by the Owner of the House Property.

Regards,

Devendra

Thanks for your reply. Can you tell me how will be the municipla tax calculated for my case i.e a flat rented for some part of the year? I know that its related to the super area of the flat but I am not aware of the entire calculations.

I don't know the basis on which the Municipal Tax is calculated. May be it depends on the Municipal Value of the House Property.

Regards,

Devendra K

Hi,

Please could you let me know what is the last date for submitting the Property/House Tax in Ghaziabad? And if the Property is let out, then the Property Tax is 10% of the annual rental amount? Please confirm.

If you have any source for this information, please let me know as nowhere on GNN website I can search this info.

Thanks