Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

Income fro house property

Rudrayani Shedjale (Assistant Accountant) (751 Points)

04 July 2019

if rent received by deducting tds which amount should be considered as taxable income?

Gross rent or rent credited after tds?

please advise.

Reply
Follow
Share

6 Replies

Ravi SADhiyan (Practice) (4510 Points)
Replied 04 July 2019

Gross Rent is considered as Taxable under Income Tax

For Example

Entry -01

Rent DR 100

Vendor CR 90

TDS CR 10

Entry -02

Bank Dr 90

Vendor CR 90

Upgrade to CAclubindia Pro. Subscribe Now!

Rudrayani Shedjale (Assistant Accountant) (751 Points)
Replied 04 July 2019

its individual assesse

Income from House Property- In this section should i consider Rs.35000/-rent per month or Rs.31500/-rent per month which is actually recd by my employee (Tenant gives him rent by deducting tds Rs.3500/- so amt credit to him.Rs.31500)

Ravi SADhiyan (Practice) (4510 Points)
Replied 04 July 2019

Originally posted by : Rudrayani Shedjale
	its individual assesse Income from House Property- In this section should i consider Rs.35000/-rent per month or Rs.31500/-rent per month which is actually recd by my employee (Tenant gives him rent by deducting tds Rs.3500/- so amt credit to him.Rs.31500)