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Income from housr property

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(Querist)
28 December 2013 pl clarify if we have taken refundable security deposit for rental property. is there any impact on income from house property due to this deposit ? thanks..
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 December 2013 no. However, the interest on the same shall be taxed as income from other sources.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 December 2013 Notional interest can't be added to determine 'annual value'. Hence no impact while calculating 'income from house property'

Citation:- CIT Vs. Moni Kumar Subba (2011) 199 Taxman 301 (Del).
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 December 2013 Warrier sir. I just said interest. I didnt say notional interest!!
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CA Avinash Garje

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CA Avinash Garje (Expert)
29 December 2013 Thanks for your views.

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