Deposit on rent

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Meet Vora (Querist)
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23 December 2013 Wether deposits on rent received is subject to tax in any of this situations

1) Refundable deposit

2) non refundable deposit.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 December 2013 Refundable is not taxable.

Meet Vora

Meet Vora (Querist)
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23 December 2013 what abt non refundable ( any case law or notificatin)

Meet Vora

Meet Vora (Querist)
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23 December 2013 thanks MR Tushar for your reply

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 December 2013 non refundable is chraged to tax but wait for other experts as yet m searching on this matter.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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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

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