direct taxes

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saritha (Querist)
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23 July 2008 as per sec.25AA no deduction(30%) is allowed in respect of arrears of rent of previous years received in current year

as per sec.25B deduction(30%) is allowed in respect of arrears of rent of previous years received in current year

both sections are contradictory,which is correct

is deduction of 30% allowed if arrears of rent is received

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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23 July 2008 25AA and 25B are not contradictory.

25AA is clarificatory that the unrealised rent is taxable in the year in which it was realised.

25B explains how the arrears of rent are to be computed for assessment.

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