Dear Frens,
If municpal tax ( rupees 4800) paid for a house which was let out for April 2010 to dec 2010 on 2500 p.m and self occupied for the rest period. on what amount we will get the expemtion
is it 4800?
or 4800*9/12 - 3600 ?
pls help ...
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Municipal tax paid
Replies (7)
4800*9/12
First PLz tel me its self ocupied or Vacant for the remaining 4 months
Because it if it is vacant than consider than it is not an Sop
and u can claim muncipal tax full amount.
When a house property is let our for a part of the year & self occupied for the other part of the year ( just as you are saying) then the valuation will be done taking the house as let out for the full year & the whole amount of municpal tax paid actually shall be allowed as deduction. Hence Rs. 4800/- will be allowed as deduction.
Rs. 4800/- Deducted because deduction is based on payment basis not on period.
Deduction for the entire amount of Rs. 4,800/- will be available in this case
When a house property is let our for a part of the year & self occupied for the other part of the year ( just as you are saying) then the valuation will be done taking the house as let out for the full year & the whole amount of municpal tax paid actually shall be allowed as deduction. Hence Rs. 4800/- will be allowed as deduction.
agreed
happy days
full amount of munciple tax will be allowed in deduction..
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