Query on Income Tax

Dear Sivaram,

1)Sec 23 says that the taxes levied by any local authority in respect of the  property shall be deducted (irrespective of the previous year in which the liability to pay such taxes was incurred by the owner according to the method of accounting regularly employed by him) in determining the annual value of the property of that previous year in which such taxes are actually paid by him.

I think what u r talkin about cannot be said as taxes, it is a kind of charges paid to municipality & that too cannot be said as paid in respect of property , as required by Sec 23, Hence will not be allowed

2) Life insurance premium of dependent parents can be claimed by HUF & not by an Individual.

Thanks Mr Amir for giving your valuable reply

Mr.Sivaram

agree with Mr.Amir brother....

Any tax paid to the municipal (i.e. Local authority) for the property can be claimed.... It will be allowed on payment basis......

 Life insurance premium of parents cannot  be claimed by an Individual u/s 80C...