Question

8. Municipal taxes are deductible on
a) payment basis
b) accrual basis
c) due basis
d) not allowed
plz answer quickly guy's ​

Answer 1

Municipal taxes paid: Any taxes paid to the Government during the financial year (for which the income is being computed) on the property owned, such as house tax, are allowed for deduction from the Gross Annual Value which is calculated on the basis of the total rent receivable/received/deemed rent for the property.

Answer 2

Answer:

8. Municipal taxes are deductible on annual or accrual basis

Explanation:

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