Deposit on rent
This query is : Resolved
23 December 2013
Wether deposits on rent received is subject to tax in any of this situations
1) Refundable deposit
2) non refundable deposit.
1) Refundable deposit
2) non refundable deposit.
23 December 2013
Refundable is not taxable.
23 December 2013
what abt non refundable ( any case law or notificatin)
23 December 2013
non refundable is chraged to tax but wait for other experts as yet m searching on this matter.
Dintakurthi Tirumala
(Expert)
23 December 2013
Refundable deposit is not taxable, because of it is not income and there is repay obiligation is there,so it has to repay and non refundable deposit is taxable, because of there is no obiligation of repay means it is in your hands(pocket) to expend by you as you want means it is income, so it is taxable.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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