TaxTMI 
TaxTMI 
Hi
i have collected the rent from our tenant for last 10 yrs alonge with the property tax & land revenue which i have paid in pre.yrs
so i have to pay the the tax on only rent or rent pluse property tax & land revenue
pls suggest
Property tax & land revenue
16 Jun 2012 
1 Reply 
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Taxable rental income includes collected property charges, but property tax paid by the landlord is deductible from rental income.
Taxable rental income includes amounts collected as rent and property-related charges; where property tax has been collected and paid, those collections are part of gross receipts, but property tax paid by the landlord is an allowable deduction from rental income, reducing taxable rental income. (AI Summary)
Taxable rental income includes amounts collected as rent and property-related charges; where property tax has been collected and paid, those collections are part of gross receipts, but property tax paid by the landlord is an allowable deduction from rental income, reducing taxable rental income. (AI Summary)