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Property tax deduction in p and l account
Can property tax paid be deductible in p and l account?
Replies (1)
Property tax paid for the property which is used as fixed assets in business for business purposes is deductible as business expenses in Profit and loss account
If, Property is given on rent than expenses of property tax is deductible under head house property from rent income of said property in Income tax return
If, Property is given on rent than expenses of property tax is deductible under head house property from rent income of said property in Income tax return
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