hi ,
due to COVID , the letout property left vacant and i didn't receive any rent.
but i paid Municipal tax & Housing loan interest.
I can avail housing loan interest and carry forward the losses but , what about the municipal taxes ? can I consider that also a loss ? or not, due to no GAV received.
kindly guide , and paid Municipal taxes for self occupied property also , can I claim or. not.
Two houses are allowed for self occupation. From the assessment year 2018-19 onwards, the maximum deduction for interest paid on self-occupied house property is Rs 2 lakh.No deduction for Municipal Taxes.
CAclubindia
