Treatment of advance/security deposits !!!
This query is : Resolved
02 April 2014
Dear Experts,
I would like to know what will be the Taxation treatment in the hands of Landlord for initial "Security Money" received from a Tenant..It will be refundable later on when the tenant vacates.
Pls guide me in details.
Thank You.
I would like to know what will be the Taxation treatment in the hands of Landlord for initial "Security Money" received from a Tenant..It will be refundable later on when the tenant vacates.
Pls guide me in details.
Thank You.
04 April 2014
Income tax is levied only on the Income or we can take a sett off against Expenses Incurred.
Rent deposit is neither a Income in which tax is to be levied nor an expenditure where tax benefit can be claimed.
Accordingly no Treatment for this Transaction under Income TAx
Rent deposit is neither a Income in which tax is to be levied nor an expenditure where tax benefit can be claimed.
Accordingly no Treatment for this Transaction under Income TAx
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
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- RATE AND HSN CODE
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
