Income from house property

Tax queries 1852 views 9 replies

Whether municipal taxes under income from house property includes PROPERTY TAX? 

 

If an assessee gives property tax whether it will be deducted while computing income from house property? 

Replies (9)

Yes Municipal taxes means property tax.  You get the deduction of the this tax paid,  only if your property is let-out during the F.Y.  In case of SOP no deduction is allowable

Agrree with Mr. Giridhar

yes u can get deduction of Municiple tax / Property tax on the basis of tax paid only by owner of property..

 

Thanks for the reply...

From where i would get a further affirmation? Is there any case law supporting the contentioon that property tax and municipal tax are same? 

They are the same thing...There may be a bifurcation between water tax etc. but property tax and municipal taxes are the same thing.

Hence, it is claimable for your let out property.

YES. PROPERTY TAXES AND MUNICIPAL TAXES ARE THE SAME. mail

Can the Municipal Corporation(Gurgaon) charge Municipal Tax with retrospective effect.Also the aera in question

is maintained by another state Govt agency called Haryana Urban Development authority.Kindly clarify.

Regds.K Ganesan,Gurgaon.

Property Tax is part of  Municipal Taxes.

So while computing IFHP. u/s 23(1) , You can get deduction when it is actually paid.

Yeah ,they both are the same.


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