Issue/Justification
At present, there is no provision for allowing deduction towards ground rent paid in computation of income from house property & the same has been merged into 24(a). Ground rent shall be allowed as deduction in addition to section 24(a) deduction since 24(a) mainly focuses on repairs & maintenance. The logic behind this suggestion is that the repairs by way of 30% standard deduction cannot accommodate a huge lease rent which may have to be paid if the land is taken on lease & building is constructed by the assessee.
Suggestion
It is suggested that ground rent shall be allowed as deduction in addition to section 24(a)
(SUGGESTIONS FOR RATIONALIZATION OF THE PROVISIONS OF THE INCOME-TAX ACT)
Source- ICAI Pre-Budget Memorandum–2018 (Direct Taxes and International Tax)
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