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Recovery of Unrealised Rent

1544 views 2 replies
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?
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


CCI Pro

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