https://www.taxtmi.com/forum/issue?id=4339 If rental income is treated as business, service tax and interest paid may be allowable as deductions under expense and cash-basis principles; however, where income is returned under the head Income from House Property, the cash-basis deduction is not available and interest on service tax will generally not be an allowable expense. The adviser also notes statutory amendments affecting penalty and limitation on demands and recommends consulting a tax advisor about revising the return to claim any entitlement. en-us Sat, 07 Jul 2012 12:48:17 +0530 Thu, 23 Jan 2025 15:57:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4339 If rental income is treated as business, service tax and interest paid may be allowable as deductions under expense and cash-basis principles; however, where income is returned under the head Income from House Property, the cash-basis deduction is not available and interest on service tax will generally not be an allowable expense. The adviser also notes statutory amendments affecting penalty and limitation on demands and recommends consulting a tax advisor about revising the return to claim any entitlement. Discussion-Forum Income Tax Sat, 07 Jul 2012 12:48:17 +0530 https://www.taxtmi.com/forum/issue?id=4339