direct taxes
This query is : Resolved
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
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
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.
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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