Query regarding to "income from house property"
This query is : Resolved
05 November 2012
sir,
will following be considered while computing the income from house property .
1)municipal tax paid by tenant .
2)legal charges paid to recover unrealized rent of earlier year .
will following be considered while computing the income from house property .
1)municipal tax paid by tenant .
2)legal charges paid to recover unrealized rent of earlier year .
05 November 2012
No. Municipal tax paid by owner is only deducted from Gross Annual Value. And no deduction for legal charges paid shall be allowed, as all expenses are covered under standard deduction of 30% except interest on loan.
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