RENT OS RS 60000 FOR THE PERIOD 1.4.05 TO 30.6.05 DUE TILL THE PROPERTY SOLD OUT BY THE OWNER ON 16.5.07 WAS RECEIVED ON 12.2.08 BECAUSE OF AN ORDER OF COURT.
IS IT CHARGEABLE TO TAX FOR A.Y 2008-09.
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CHARGEABLE TO TAX
Replies (1)
It is treated as recovery of unrealised rent as per section 25AA and same is taxable as per IT ACT and no deduction is allowed for expenses.
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