Accounting for Rent
This query is : Resolved
Raghunandana C K
(Querist)
16 December 2010
Sir/Madam
I have a doubt in accounting for rent receivable in the books of account of the landlord in case there is conflict between the landlord and the tenant. The agreement is renewed due to this conflict. Ex
Mr. A is landlord who maintains the books of account on accrual basis. Mr.X is a tenanat who is paynig rent as per the old agreement. The new rent as per landlord's discrtion is Rs.25000/- but the tenant is paying only Rs.20000/- as per old agreement.
The agreement is expired. The tenant has not vacated the premises.
I have a doubt in accounting for rent receivable in the books of account of the landlord in case there is conflict between the landlord and the tenant. The agreement is renewed due to this conflict. Ex
Mr. A is landlord who maintains the books of account on accrual basis. Mr.X is a tenanat who is paynig rent as per the old agreement. The new rent as per landlord's discrtion is Rs.25000/- but the tenant is paying only Rs.20000/- as per old agreement.
The agreement is expired. The tenant has not vacated the premises.
CA Sanjay Jha
(Expert)
16 December 2010
it is truly practical case i think in this case is pending in judiciary.
before the judiciary decision come in favour of Tenant/Landlord both are free to book income/expense as per old/new agreement.
when judiciary decision comes rectification may be done.
before the judiciary decision come in favour of Tenant/Landlord both are free to book income/expense as per old/new agreement.
when judiciary decision comes rectification may be done.
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Raghunandana C K
(Querist)
16 December 2010
Thank You Sir
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