Municipality Tax in House Property

This query is : Resolved 

24 September 2009 If a person pays the municipality tax in advance can it be deducted from the Gross Annual value

or only the tax paid for the current year can be deducted?

24 September 2009 It is the tax paid and not a liability on accrual basis. As such, deduction on account of tax paid ia allowable.

24 September 2009 As per Section 23 of Income Tax Act, 1961 amount paid in a previous year is allowable to be deducted to arrive GAV so whether it is off currentyear or last year or coming year


24 September 2009 I have a different view, muncipal tax tax for last year and current year shall only be allowed, ADVANCE MUNICIPAL TAX PAID IS NOT ALLOWED

24 September 2009 i agree with Manmohan

26 September 2009 Municipal Taxes paid (Current year / advance / arrear) can be deducted.



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