INCOME FROM HOUSE PROPERTY
What is the difference between unrealised rent & arrears of rent?
Why we take 30% standard deduction in only arrears of rent & not for unrealised rent?
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Replies (7)
in case of unrealised standard deduction of 30% is taken when it is received.
i.e, if any unrealised rent is received after a period then 30% is deducted from it.
in case of arrears of rent received shall be deemed to be income of the year in which such rent is received after deducting 30%.
on unrealised rent- first it shall be deducted from GAV and then 30% is deducted
and if any recovery of unrealised rent then 30% of deduction shall be allowed from such recovery.
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| Originally posted by : Nukul Garg | ||
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in case of arrears of rent received shall be deemed to be income of the year in which such rent is received after deducting 30%. on unrealised rent- first it shall be deducted from GAV and then 30% is deducted and if any recovery of unrealised rent then 30% of deduction shall be allowed from such recovery. |
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Unrealised rent Means Rent Not Received While Arrear of Rent Means yet to be receivable so it is receivable income
Unrealised Rent Is not Taxable Hence Standard Deduction of 30% is not allowed
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