alternate accomodation recd from builder as rent and owner shows that as rental income under head income from house property whether that alternate accomodation recd can get 30 percent standard deduction.
8 Replies
sabyasachi mukherjee
(27574 Points)
Replied 11 May 2023
Show it under income from house property and get necessary deductions.
Praful Kotak
(student)
(94 Points)
Replied 11 May 2023
Rent paid for alternate accommodation is deductible from rent receipt.
Sport Classic
(32 Points)
Replied 11 May 2023
Owners have the 2 flat and shifted to other hence alternate accomodation recd shown as rental income , just a debate is whether he can shown in income from house property head and claim the standard deduction of 30 percent or have to shown in income from other sources head full amt
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 11 May 2023
| Originally posted by : Sport Classic | ||
 |
Owners have the 2 flat and shifted to other hence alternate accomodation recd shown as rental income , just a debate is whether he can shown in income from house property head and claim the standard deduction of 30 percent or have to shown in income from other sources head full amt |  |
Only under head IFOS..
Sport Classic
(32 Points)
Replied 11 May 2023
| Originally posted by : Dhirajlal Rambhia | ||
|
Sir is it because it is alternate accomodation as there is no maintaince other expenses involved. Originally posted by : Sport Classic Owners have the 2 flat and shifted to other hence alternate accomodation recd shown as rental income , just a debate is whether he can shown in income from house property head and claim the standard deduction of 30 percent or have to shown in income from other sources head full amt Only under head IFOS.. |
|
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 11 May 2023
Cannot be declared u/h IFHP as the amount received is not rent, its compensation given for alternative accommodation.
Mahesh Shah
(2308 Points)
Replied 11 May 2023
In case of AJAY PARASMAL KOTHARI vs ITO ruling is.....alt.accomodation rent is hardship compensation and thus Capital in nature irrespective of assessee had spend it or not.....( hardship compensation as assessee is facing difficulty & thus Capital in nature)
sabyasachi mukherjee
(27574 Points)
Replied 12 May 2023
It's a rent in lieu of the original accomodation.
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