Hello, my house has been rented and I have received 10 months of security deposit as advance wheich I will have to refund at the end of the rent lease, no TDS has been done on this amount. Now I want to ask do I have to include this deposit in my overall income in the ITR return. If yes then when I refund then how to compensate for this?
Menu
Tax on house rent security deposit
Replies (1)
1. Security deposit collected at the time of letting out a building to a tenant on the condition that the deposit will be refunded at the time of vacating the building, is not in the nature of income and, therefore, TDS u/s 194I is N.A.
.
2. Record the security deposit as current liability in your accounts.
Recent Topic
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
Related Topics
CAclubindia
