Dear All,
Please someone solve my query.
If an Assessee forfeited the security amount deposited by the tenant for his default in payment of rent, whether the amount so forfeited is taxable in hands of landlord ?
In case it is taxable, under which head it will be taxable?
Thanks in advance
Hi Saumya
Yes it is taxable as pre Income Tax Act & it is Taxable Under the Head Income from House Property.
Thanks I hope this info helped u,
R Shriram.
Forfeited security deposits are rental income in the year received or forfeited.
Thanks for your replies.......
It really helped me in solving my query....
Saumya Agarwal
CAclubindia
