Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Income from house property

10 June 2016

Dear all, Can any one say me under IFHP we can take deduction of Municpal Tax and Society maintainance charge as a tax paid to govt and further take 30% gross deduction under 20b..I am confused whether 30% include maintaince charge or i can take seperate dedcution of society maintainance under municipal taxes..Please suggest?

Reply
Follow
Share

6 Replies

Taxhelp.com (Professional) (94 Points)
Replied 10 June 2016

Hi Shanu

You can avail 30% standard deduction on rent income and muncipal tax on the basis of actual payment is also available for deduction. Howvever, you can not avail deduction of Society Maintainence Charges.

Thanks

Upgrade to CAclubindia Pro. Subscribe Now!

Divyam Agarwal (Practicing Chartered Accountant) (959 Points)
Replied 10 June 2016

The 30% deduction which you can avail includes all types of charges. No any other dedution is available except interest.

CA MANISH BINDAL (CHARTERED ACCOUNTANT ) (535 Points)
Replied 11 June 2016

Standard deduction @ 30% under section 24 is available after deducting municipal tax(if actually paid) from rental income. However no deduction is available for society maintenance charges.

SHANU SHANKLESHA (ca) (58 Points)
Replied 11 June 2016

Thank u for your suggesstion..So now its clear I cannot avail deduction of society maintainance charge..

Thank You!!

Nirmal (Director) (22 Points)
Replied 23 June 2016

So do we need to submit proof for this 30% deduction? And when?

Upgrade to CAclubindia Pro. Subscribe Now!

Nirmal (Director) (22 Points)
Replied 23 June 2016

Originally posted by : MANISH BINDAL

Standard deduction @ 30% under section 24 is available after deducting municipal tax(if actually paid) from rental income. However no deduction is available for society maintenance charges.

Do we need to submit proof against this 30%?

And when?