Whether Commission paid for arrangement of Tenant deductible from NLV

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33 Points Posted on 30 September 2019

1. We paid a commission of Rs. 2 Lakh, through account payee cheque, in respect of letting out the commercial property my query is whether the same are deductible from NAV ? 

2. we also paid appx 5 Lakh to Municipal Corporation as land use conversion charges  & parking charges, whether this amount also deductible from NAV ?

Kindly Advise.. 

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On 30 September 2019 at 12:09 Report
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17269 Points Posted on 30 September 2019
1. I don't think 2 lakhs is deductible. You will get 30% flat deduction from NLV.

2. 5 lakhs paid to Municipal Corporation is not deductible from NLV.
This 5 Lakhs is a capital expenditure which will be added to the property cost.
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On 30 September 2019 at 13:19

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