Rebate on property tax payment

How one has to treat rebate given by muncipalities for early payment of property tax  for incometax purpose ?

In computing House  property income  we subtract the property tax  actually paid and compute the taxable income. 

Property tax  amount claimed as deduction  is to be shown after rebate  or before rebate in ITR  , may please be clarified .

Like Gas subsidy , rebate on property taxt payment  is also tax free. 

 

Replies (3)
In the column of IFHP. We have separate column for fill Municipality Tax amount.

As per Your query.,

Before Rebate...

if " before rebate " we take the deduction of Mpl taxes, where do you show this rebate in  ITR . Can we  show this in EI ( exempted from income tax ) schedule . ?

Generally we ignore this sort of income , but in some cases  the rebate works out couple of thousands  which I feel to report under EI schedule .

 

In ITR 3 - 

Schedule HP - Details of Income from House Property

a - Annual letable value or rent received or receivable (higher of the two, if let out for whole of the year, lower of the two if let out for part of the year)
b - The amount of rent which cannot be realized 
c - Tax paid to local authorities

You will show the MPL Tax in  --->>>   "C- Tax Paid Local Authorities"

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