Dear Frens,
If municpal tax ( rupees 4800) paid for a house which was let out for April 2010 to dec 2010 on 2500 p.m and self occupied for the rest period. on what amount we will get the expemtion
is it 4800?
or 4800*9/12 - 3600 ?
pls help ...
sabia (CWA Finals) (548 Points)
01 March 2012Dear Frens,
If municpal tax ( rupees 4800) paid for a house which was let out for April 2010 to dec 2010 on 2500 p.m and self occupied for the rest period. on what amount we will get the expemtion
is it 4800?
or 4800*9/12 - 3600 ?
pls help ...
Mazhar Shaikh
(Intern)
(72 Points)
Replied 01 March 2012
First PLz tel me its self ocupied or Vacant for the remaining 4 months
Because it if it is vacant than consider than it is not an Sop
and u can claim muncipal tax full amount.
CA.HARSHIT KHATRI
(CHARTERED ACCOUNTANT)
(47 Points)
Replied 01 March 2012
When a house property is let our for a part of the year & self occupied for the other part of the year ( just as you are saying) then the valuation will be done taking the house as let out for the full year & the whole amount of municpal tax paid actually shall be allowed as deduction. Hence Rs. 4800/- will be allowed as deduction.
Jitendra Vyas
(Commercial Officer)
(178 Points)
Replied 01 March 2012
Rs. 4800/- Deducted because deduction is based on payment basis not on period.
CA Kiran Sutrave
(CA)
(428 Points)
Replied 01 March 2012
Deduction for the entire amount of Rs. 4,800/- will be available in this case
varahi
(STUDENT)
(2373 Points)
Replied 01 March 2012
When a house property is let our for a part of the year & self occupied for the other part of the year ( just as you are saying) then the valuation will be done taking the house as let out for the full year & the whole amount of municpal tax paid actually shall be allowed as deduction. Hence Rs. 4800/- will be allowed as deduction.
agreed
happy days
CA Sourabh Goenka
(Chartered Accountant)
(249 Points)
Replied 02 March 2012
full amount of munciple tax will be allowed in deduction..