Dear All,
I am having one problem:-
if u r having any unrelised any rent during the P.Y.then u will not take this for calculation of Income from House Property and 30% deduction u/s 24 would not be available to the assessee.
and while r u receiving unrealised amount during any coming P.Y.,whole amount would be taxable under the head Income from House Property.and no deduction is available U/s 24.
Q. is why we are not giving 30% Deduction U/S 24 during receiving the amount?
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Recovery of Unrealised Rent
Replies (2)
improve your grammer there is nothing why in income tax ratt ley
Hi,
The taxability of unrealised rent received later is governed by a specific provision . And that provision does not explicitly provide for 30% deduction. Thus in absence of such a provision the deduction cannot be assumed.
But even if we take a liberal view and allow the deduction courts MIGHT hold it correct .
Other views invited.
Regards
Prince George
The taxability of unrealised rent received later is governed by a specific provision . And that provision does not explicitly provide for 30% deduction. Thus in absence of such a provision the deduction cannot be assumed.
But even if we take a liberal view and allow the deduction courts MIGHT hold it correct .
Other views invited.
Regards
Prince George
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