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I live in heavy deposit of 10L for 3years and the landlord pays everything including maintenance.

ITR 879 views 2 replies

Nasir

system admin

21 Points Joined February 2023

I live in heavy deposit(lease) of 10L for 3years which would be returned to me after 3 years without deducting anything and the landlord pays everything including maintenance. When declaring investment proof do I have to declare it as rent or I should not declare anything?

if it should be declared as rent, how should I calculate it?

Replies (2)

Ayush

Executive

8745 Points Joined August 2011

When you live in a property on a heavy deposit basis, it is considered as a form of rental arrangement. The heavy deposit is essentially a security deposit for the rental property, which is returned to you at the end of the tenancy period.