Booking of Rent income for F.Y. 2019-20
This query is : Resolved
08 August 2020
Dear Sir,
One of my client used to show rent income received every year in his books of accounts.
But this year due to lockdown he was not able to take the cheque from the tenant before 31.03.2020. The tenant is now ready to give the cheque but the date of cheque is 31.07.2020.
Can this income be shown as a BRS entry in FY 2019-20 by preparing the bill for rent received on 31.03.2020 and amount received date as 31.07.2020. TDS is also applicable on this rent.
Please help me in this matter.
Regards,
Divyesh Jain
One of my client used to show rent income received every year in his books of accounts.
But this year due to lockdown he was not able to take the cheque from the tenant before 31.03.2020. The tenant is now ready to give the cheque but the date of cheque is 31.07.2020.
Can this income be shown as a BRS entry in FY 2019-20 by preparing the bill for rent received on 31.03.2020 and amount received date as 31.07.2020. TDS is also applicable on this rent.
Please help me in this matter.
Regards,
Divyesh Jain
08 August 2020
Account rental income based on accrual basis and TDS based on 26AS.
08 August 2020
Thanks a lot sir......
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
- Treatment of Renting of Villa
- Issue with no residency during Jan, Feb, March 2025 due to diff. between US and India tax years.
- ITR BELATED FILED DEFECTIVE U/S 139(9) AY 2024-25 - FAILED TO SUBMIT THE ONLINE RESPONSE
- Tax payment deduction from house loan EMI
- Evaporation loss in vat return
- House keeping and security services ITC can claim
- GST TDS applicability on black trap
- Do I need to pay taxes on uber one credits or Best Buy reward certificate?
- Error AIS modification submitted
- DTAA India & UAE
- INVOICE VALIDATION IN GST
- Write off a Party Balance
- GST refund claim on Purchase of Commercial Building
- GST on tour packages service
- Refund of ITC which was used in payment of tax
- TDS rate on Employement Agency and Rating agency
- I & E Code status
- Journal entry in the case of Non Listed Company
- Error while filing LUT
- ROC & INCOME TAX
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
