I have taken advance payment of two months rent from my lessee. TDS has been deducted by the lessee on 12+2 months rent.The 2 months advance rent will be adjusted in 35 and 36th month of lease.
Please help me in computing my income from house property for 12 months.
abedinhs @ indiatimes.com
| Originally posted by :Abedin | ||
| " | I have taken advance payment of two months rent from my lessee. TDS has been deducted by the lessee on 12+2 months rent.The 2 months advance rent will be adjusted in 35 and 36th month of lease. Please help me in computing my income from house property for 12 months. abedinhs @ indiatimes.com |
" |
You will compute House Property Income on 14 months rent.
YEAH U HAVE TO TAKE INCOME OF 14 MONTHS IN UR COMPUTATION AND IN NEXT YEAR TAKE IT OF 10 MONTHS
| Originally posted by :Abedin | ||
| " |
good question dear but the answer is very simple you should show only twelve months rent in your computation Since As per Sec-22 of Income Tax act, The annual value of property cosisting any building and land appurtenant thereto of which assessee is owner is chargeable to Income Tax Under the head "Income from House property" Annual Value means value of 12 months if you have some more confusion yoy may call me 9911337059 |
" |
deepak too correct man . the advance rent received will not be taken into cosideration while calculating IHP
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