HII
I HAVE A QUERY
IF I AM GIVING MY FLAT TO A ANOTHER PERSON ON HEAVY DEPOSIT
SO THAT DEPOSIT AMT WHERE I HAVE TO SHOW IN ITR
KINDLY HELP
UNDER CREDITORS.... ...............
5 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 25 May 2023
If deposit refundable in future then it should be under " other Current liability. "
Mahipal Rathod
(Com)
(49 Points)
Replied 25 May 2023
I don't think in this case you will be returning the deposit...
Nupur Oberoi
(Ober)
(58 Points)
Replied 26 May 2023
Notional interest over the deposit is treated as rent for taxation purpose.
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