| Q. Is income from Superstructure built on leased
land taxable as House Property Income?
A. Yes. As the assessee is the owner of the superstructure
the income from such property is taxable as income from house property.
Q. Is the interest payable outside India allowed
as a deduction u/s 24(1) while computing the income from house property?
A. No the interest paid or payable outside India
is not deductible.
Q. Is land revenue paid to the State Government in
respect of property deductible u/s 24(1)?
A. Yes any sum paid on account of land revenue or
any other tax levied by State Government in respect of the property
whose income is computed under the head income from house property
is deductible on payment basis.
Q. Is insurance premium paid to insure the property
allowable as a deduction?
A. Yes amount of any premium actually paid to insure
the property against the risk of damage or destruction is allowed
as deduction u/s 24(1) in computing the income from house property.
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