Taxability of security deposit forfeited
This query is : Resolved
26 July 2014
Pls tell the treatment of security deposit i.e not adjusted against rent & has been forfeited by the landlord. Pls tell whether such forfeited amount will be taxable or exempt under income tax act. Kindly give reference of sections & case laws, if any.
Nikhil Kaushik
(Expert)
26 July 2014
there is no exemption. it should be taxed under house property itself.
29 July 2014
refer sec 22 charging section and taxable as income from house property.
29 July 2014
refer sec 22 charging section and taxable as income from house property.
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