CA Paras jain (Audit Senior Assistant) (1544 Points)
09 February 2010During the previous year 2004-05, X had claimed deduction of UNREALISED RENT of Rs.15000 out of which Rs. 11000 was allowed as deduction for that year. On August 10, 2009, X, however recovers Rs.7000 from the defaulting tenant.
how much amount shall be taxable for PY 2009-10?
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 09 February 2010
The unrealised amount that was not allowed as deduction in 2004-05, will be allowed now... And any excess there on will be taxable in 2009-10...
In ur case, amount taxable is Rs. 3000 only
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 09 February 2010
Amit Wadhawan
(CA Final)
(107 Points)
Replied 09 February 2010
CA Manasa
(CA)
(1479 Points)
Replied 09 February 2010
| Originally posted by : D н ! я σ √ | ||
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The unrealised amount that was not allowed as deduction in 2004-05, will be allowed now... And any excess there on will be taxable in 2009-10... In ur case, amount taxable is Rs. 3000 only |
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Agree With Dhiraj... 3000 is taxable in this year
CA.Tarun Maheshwari
(CA, DISA)
(7150 Points)
Replied 09 February 2010
First of all, the reason for short allowance need to be known. Why only Rs.11000 was allowed when Rs. 15000/- were claimed. If this allowance has been made by the AO on the basis that only Rs.11000 were eligible to be claimed, then as per my opinion, you can not claim the balance. And in this situation, whole amount of Rs.7000/- should be taxable. But for any opinion, exact facts to be given.
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