Heyy
What wll be the treatment of unrealise rent in House Property in exams??
M.K.Gupta sir says that it will be deducted from rent received/receivable but Girish Ahuja Sir says it is deducted from GAV as its treatment is same in ITR 4(its done as sir said in ITR. I hav confirmed).
Which side to go ?
See as per IT,Act it should be deducted from Actual Rent,
But in Forms it is deducted from Gross Annual Value,
So keeping in mind the Practical Approach it should be deducted from Gross Annual Value.
Both approaches are correct.
i deduct it from actual rent receivable..
thanxx guyzz !!
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