Income from house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2013
hi friends,
I Have one query relating Income from house property, one of the assessee during the year not received any rent 13,00,000 but the rent is adjusted against the advance given by tenant 13,00,000. The assessee taken the rental income in his computation as 8,00,000 after meeting expenses 5,00,000 (repairs and Interiors) to make the building useful condition. Explain whether it is correct if any case laws relating above case.
I Have one query relating Income from house property, one of the assessee during the year not received any rent 13,00,000 but the rent is adjusted against the advance given by tenant 13,00,000. The assessee taken the rental income in his computation as 8,00,000 after meeting expenses 5,00,000 (repairs and Interiors) to make the building useful condition. Explain whether it is correct if any case laws relating above case.
27 July 2013
The Tenant is required to deduct TDS on the amount paid for rent. In such a situation
adjustment of advance out rightly is a disputable matter.
.
Landlord is allowed 30% Deduction only from the Net Annual Value. Expenditure for repairs and upkeepment is not allowable.
.
adjustment of advance out rightly is a disputable matter.
.
Landlord is allowed 30% Deduction only from the Net Annual Value. Expenditure for repairs and upkeepment is not allowable.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Gift Received from nonblood relative
- Experts need help
- Management System (IMS)
- Foreign lottery ticket bought online from India: legality, tax and consequences
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Is any professional CA is here please reply
- Putting a heading on received mail
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
