Treatment of advance/security deposits !!!
This query is : Resolved
02 April 2014
Dear Experts,
I would like to know what will be the Taxation treatment in the hands of Landlord for initial "Security Money" received from a Tenant..It will be refundable later on when the tenant vacates.
Pls guide me in details.
Thank You.
I would like to know what will be the Taxation treatment in the hands of Landlord for initial "Security Money" received from a Tenant..It will be refundable later on when the tenant vacates.
Pls guide me in details.
Thank You.
04 April 2014
Income tax is levied only on the Income or we can take a sett off against Expenses Incurred.
Rent deposit is neither a Income in which tax is to be levied nor an expenditure where tax benefit can be claimed.
Accordingly no Treatment for this Transaction under Income TAx
Rent deposit is neither a Income in which tax is to be levied nor an expenditure where tax benefit can be claimed.
Accordingly no Treatment for this Transaction under Income TAx
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
