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This query is : Resolved

Bikaxh (Querist)

12 April 2015 There is an unrealised rent for py 2000-01 amounting to rs. 40000 but deduction has been claimed so far for only rs. 30000. There is a recovery of rs. 20000 only. what is the amount of deduction that would be allowed for this. p.s. please explain the whole process of getting the amout of rs.10000 as answer.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

12 April 2015 1. Total Unrealised Rent Rs. 40000
2. Deduction Claimed Rs.30000
3. Balance amount of Rs. 10000/ was taxed in AY 2001-02.
4. Now assume that the whole amount of Rs 40000/ has been realised in this PY.
5. Since out of 40000/- 10000 was already taxed, so taxable amount for this PY will be 40000-10000=30000.
6.Like wise, Out of Rs 21000/- realised,
the amount deductible is Rs. 10000/- as the same was taxed earlier. (Balance 11000/- is taxable. 20000/ has been changed to 21000/- for understanding the matter clearly).
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