income from house property
This query is : Resolved
09 November 2008
Hi
What is the basic difference between arrears of rent as covered by sec 25B and unrealised rent reffered to in sec 25AA of income tax act
Further when sec 25A is applicable and when sec 25AA.i have read both but both sounds akin
Thanks in advance
What is the basic difference between arrears of rent as covered by sec 25B and unrealised rent reffered to in sec 25AA of income tax act
Further when sec 25A is applicable and when sec 25AA.i have read both but both sounds akin
Thanks in advance
10 November 2008
I think this question has been answered already by me. 25B refers to delayed receipt of rent from existing tenant.
25AA contemplates collection of rent which was not to be on account of the refusal of the tenant to pay and subsequently accepted by him or rent that could not be realised owing to the tenant leaving the tenancy without paying, but subsequently accepted and paid.
25AA contemplates collection of rent which was not to be on account of the refusal of the tenant to pay and subsequently accepted by him or rent that could not be realised owing to the tenant leaving the tenancy without paying, but subsequently accepted and paid.
10 November 2008
Sir what about second part of my query
10 November 2008
25A is coming into operation when unrealised rent is realised and how to treat is as income when the property is continued to be owned by the assessee. 25AA is inoperation even when the assessee ceased to be owner of the property in question.
10 November 2008
Thanks Sir
But if that was the case why in Sec 25A it is given 'whether the assessee is the owner of that property in that year or not'
But if that was the case why in Sec 25A it is given 'whether the assessee is the owner of that property in that year or not'
10 November 2008
The unrealised rent would have been deducted in the previous year when the present owner might not have been the owner.
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