Menu
Income From House Property
If Municipal Taxes are Due will it still be deducted from gross annual value ?
Replies (6)
No. Only on payment basis, deduction is allowed
ONLY PAID IS ALLOWED NOT PAYABLE
PAID AND PAID BY OWNER EVEN NOT BY TENANT
Municipal Taxes actually paid and borne by the assessee during the previous year are allowed as deductions . section 23 (1) proviso of the income tax act 1961
Municipal Tax Deduction allowed from GAV on Payment basis if paid by owner only of Property.
on payment basis only, it can be related to any year
only on paid basis related to relevant ay
Recent Threads
- Foreign income and bank account
- Unorganised chit amount
- LTCG tax late payment interest
- Post pension deposit in Swiss account
- Max FD super senior citizen can make.
- Capital Gains Tax Bonds
- Timing difference in availment of ITC reporting in
- Import of goods and igst related
- DGFT licence port mismatch with Postal (PAD) impor
- Tax on sale property (Land)
Related Threads
CAclubindia
