Deduction of municipal taxes under house property income
This query is : Resolved
29 August 2014
Respected Experts,
Is deduction for municipal taxes allowed if the taxes are borne by the tenant but is paid by the landlord of the house property which is let out..?
Is deduction for municipal taxes allowed if the taxes are borne by the tenant but is paid by the landlord of the house property which is let out..?
30 August 2014
There is no condition that municipal taxes should have been borne by the landlord. The only condition is that municipal taxes should have been paid.
So landlord can claim deduction even if taxes have been borne by the tenant
So landlord can claim deduction even if taxes have been borne by the tenant
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30 August 2014
1) The Municipal taxes , if paid by the tenant for your property are defined either as a part of the rent or additional payments towards tenancy only and all such amount are taxable in the hand of Owner.
2) Municipal taxes deposited either by Tenant or owner for a property can only be claimed under exemption by property owner only.
2) Municipal taxes deposited either by Tenant or owner for a property can only be claimed under exemption by property owner only.
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