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House property

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13 December 2013 What is the difference between arrears of rent received and recovery of unrealised rent
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
13 December 2013 Arrears of Rent........ Received :
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This can be said as receipt of extra rental income.
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Take it as if you are a land lord and Your request/threat for increase in rental charges of the earlier years has materialised.
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It is always taxable. It is at par with the current rate as far as 30% standard deduction is concerned.
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Unrealised Rent Received-
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This can be said as receipt out of bad debts.
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Take it as if you are a land lord and Your follow up for recovery of earlier year's rental charges of a defaulter-tenant has materialised.
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It is taxable only when earlier allowed as Unrealised Rent in the computational mechanism. Standard Deduction is not allowed.
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