Income from housr property
This query is : Resolved
28 December 2013
pl clarify if we have taken refundable security deposit for rental property. is there any impact on income from house property due to this deposit ? thanks..
28 December 2013
no. However, the interest on the same shall be taxed as income from other sources.
28 December 2013
Notional interest can't be added to determine 'annual value'. Hence no impact while calculating 'income from house property'
Citation:- CIT Vs. Moni Kumar Subba (2011) 199 Taxman 301 (Del).
Citation:- CIT Vs. Moni Kumar Subba (2011) 199 Taxman 301 (Del).
28 December 2013
Warrier sir. I just said interest. I didnt say notional interest!!
29 December 2013
Thanks for your views.
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