07 March 2009
Under section 24 Municipal / property taxes paid is allowable as deduction from income from House property. Similarly under the service tax laws as per notification 24/2007 provides for deduction of municipal / property taxes paid is allowed as deduction for purposes of computing service tax payable. Can an assessee claim both these deductions ? or as in the case of CENVAT on capital goods and depreciation , only one deduction is allowed either for service tax or under Income tax?
CAclubindia
