Income from house property
This query is : Resolved
16 October 2013
Deduction of Municipal Tax paid for future years is allowed ??
16 October 2013
Yes, it is allowed
16 October 2013
Hi
Muncipal tax is allowed on the payment basis in a year in which payment is made.
So it is allowed.
Thanks//VaibhavJ
Muncipal tax is allowed on the payment basis in a year in which payment is made.
So it is allowed.
Thanks//VaibhavJ
16 October 2013
But as per definition it is deducted only when it is levied and paid .. nd when we pay it for future it can't be called levied !!
16 October 2013
Agree with Experts,
Such deduction is allowed only if the municipal taxes are borne and have been actually paid during the year by the owner of the property.
Taxes that are due but not paid are not allowed as a deduction. However, taxes paid during the year are allowed as a deduction even if they relate to past or future years.
Such deduction is allowed only if the municipal taxes are borne and have been actually paid during the year by the owner of the property.
Taxes that are due but not paid are not allowed as a deduction. However, taxes paid during the year are allowed as a deduction even if they relate to past or future years.
17 October 2013
Yes, municipal taxes paid is allowed on payment basis
17 October 2013
Agreed with Vaibhav that it is allowed on payment baisis.
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