HII
I HAVE A QUERY
IF I AM GIVING MY FLAT TO A ANOTHER PERSON ON HEAVY DEPOSIT
SO THAT DEPOSIT AMT WHERE I HAVE TO SHOW IN ITR
KINDLY HELP
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HEAVY DEPOSIT AMT
Replies (5)
Quick Summary
UNDER CREDITORS.... ...............
If deposit refundable in future then it should be under " other Current liability. "
I don't think in this case you will be returning the deposit...
Notional interest over the deposit is treated as rent for taxation purpose.
Agreed with above
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