APOORV SAXENA (Chartered Accountant) (794 Points)
25 October 2010Heyy
What wll be the treatment of unrealise rent in House Property in exams??
M.K.Gupta sir says that it will be deducted from rent received/receivable but Girish Ahuja Sir says it is deducted from GAV as its treatment is same in ITR 4(its done as sir said in ITR. I hav confirmed).
Which side to go ?
NUKUL GARG
(Senior Associate Consultant)
(1231 Points)
Replied 25 October 2010
See as per IT,Act it should be deducted from Actual Rent,
But in Forms it is deducted from Gross Annual Value,
So keeping in mind the Practical Approach it should be deducted from Gross Annual Value.
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 27 October 2010
Both approaches are correct.
Sunshine
(Helping All)
(10575 Points)
Replied 27 October 2010
i deduct it from actual rent receivable..
CAclubindia
