Property tax paid in advance

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3 Points Posted on 03 September 2022
If property tax paid in advance can it be allowed to deduct from Gross annual value in the year in which it is paid?
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On 03 September 2022 at 16:00 Report
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Yes, property tax paid in advance can be deducted from your Gross Annual Value (GAV) in the year it is paid. This deduction is applicable if the tax is paid by the owner, not the tenant. The GAV is specifically related to the owner's income, and therefore, the deduction is permissible.

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CFO- at NHTF
58280 Points Posted on 03 September 2022
Yes.It is allowed.
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On 03 September 2022 at 16:26
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Chartered Accountant
86505 Points Posted on 03 September 2022
Yes you can claim it
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On 03 September 2022 at 17:04
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33 Points Posted on 03 September 2022
Yes ensure that same is paid by the owner and not by tenant.
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On 03 September 2022 at 17:41
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CFO- at NHTF
58280 Points Posted on 03 September 2022
The query is clear that GAV - Property tax

That GAV is related to owner only and it will not be income for tenant
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On 03 September 2022 at 17:44
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Profession Business
28246 Points Posted on 04 September 2022
Yes you can claim.
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On 04 September 2022 at 11:25

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