It Benefit For Apartment Maintenance & Property Tax For Self-Occupied Property

Ramakrishnan N
watch_later 2 years, 4 months ago

How to avail Income Tax Benefit for maintenance fee payment (such as security, cleaning, etc. in a apartment complex) as well as property & water tax payments of self-occupied property. If it is possible, then under which section I shall input such taxes/expenses. Noticed that municipal taxes paid for letout properties is possible, but do not find such for self-occupied properties.

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1 Answer

CA Ankit Sharma watch_later 2 years, 4 months ago


Under Income tax Act, property taxes are not allowed for deduction in respect of self occupied residential house, as there is no income. For self occupied properties, you are allowed to take benefit only of interest on loan taken for construction or acquisition of residential house.

  • chatComments
    Thank you sir. - Ramakrishnan N
    How about maintenance charges payments (towards security, cleaning, gardening, etc) for self-occupied own flat. - Ramakrishnan N
    These are not deductible. U/s 24, only interest on loan are deductible for self occupied property - CA Ankit Sharma
    Thank you sir. I am clear now. - Ramakrishnan N
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