House property income - deduction of property tax
This query is : Resolved
05 March 2009
An assessee registered under service tax law for 'Renting of Immovable Properties' is eligible to get a deduction for the property tax paid on the property. My question is for the same property the income of which is included under income from House property, whether the assessee would be eligible to deduct the prperty tax paid for computing Income tax on income from House property?
05 March 2009
Yes.
Why did you get a doubt at all ? Please put forward your doubt clearly
Why did you get a doubt at all ? Please put forward your doubt clearly
05 March 2009
yes, definately he can take the deduction of property tax.
06 March 2009
No he can't. if income is chargeable under House Property than section 22 to 27 will come to play. Which specifically allow only two substraction from Income ie. Municipal taxes paid of Section 24(a & b). I am not agreed with opinion as their are specific case laws for the same.
15 March 2009
PROPERTY TAX PAYMENT MADE AS A STATUTORY/GOVT BODY WILL BE ALLOWED AS DEDUCTION BUT ONLY ON ACTUAL PAID BASIS NOT ON PAYABLE BASIS
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
