Income from household property

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1 Points Posted on 03 December 2020
municipal tax is deducted from?
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On 03 December 2020 at 13:23 Report
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When calculating income from a household property, municipal tax that has actually been paid can be deducted from the Annual Value. This deduction is only claimable on a payment basis, not on an accrual basis. This means you can reduce your taxable house property income by the amount of municipal tax you've settled.

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GST Practitioner & Accounts
15146 Points Posted on 03 December 2020

Municipal  Tax  actually  paid   are  deductible  form  Annual  Value  while calculating income form House property  .   

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On 03 December 2020 at 13:31
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Student
210 Points Posted on 03 December 2020
Yes municipal taxes are deducted while calculating house property income. this municipal taxes can be claimed only on payment and not on accrual basis.
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On 03 December 2020 at 23:40

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