Treatment for unrealized rent ??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2014
Explain the treatment of unrealized rent and its recovery in subsequent years under the provisions of Income Tax Act, 1961 ?
04 March 2014
it is not included in income from house property in the year in which it was actually supposed to be taxed but was not realized. recovery in subsequent years is taxed as income from house property without any standard deduction. Also it is not relevant whether or not the person is still the owner of the property.
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