Guide to .. Tax Management ,Tax Planning and Tax Saving

 

 

"Taxation Of Arrears Of Rent In The Year Of Receipt”

 

If any arrears of rent other than what has already been taxed under Section 23, are received in a subsequent year, the same would be taxed in the year of receipt, whether property is owned by the assessee in the year of receipt or not.

 

However, a deduction of a sum equal to 30% of such amount of rent would be allowed towards expenses.
 
 
 

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