Advance rent for first three months
This query is : Resolved
16 June 2012
Dear all
my client has received in advance Rent of First three months of at the inception of the lease.
He received Rs. 9,00,000 in March 2012 for March April & May.
So the question is whether Rs 9,00,000 will be taxable in A.Y 2012-13 or only partial amount i.e. Rs 3,00,000 will be in the Current A.Y.
my client has received in advance Rent of First three months of at the inception of the lease.
He received Rs. 9,00,000 in March 2012 for March April & May.
So the question is whether Rs 9,00,000 will be taxable in A.Y 2012-13 or only partial amount i.e. Rs 3,00,000 will be in the Current A.Y.
16 June 2012
Dear Friend, you have to take Rs. 3,00,000 for current year and rest amount for next year for calculation of Income.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
