Arrears of rent deemed income from house property when received; a fixed deduction is allowed on such amounts. Arrears of rent received from a tenant and unrealised rent realised subsequently are deemed to be income from house property in the financial year in ... Summary
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Arrears of rent deemed income from house property when received; a fixed deduction is allowed on such amounts.
Arrears of rent received from a tenant and unrealised rent realised subsequently are deemed to be income from house property in the financial year in which such amounts are received or realised, and must be included in the assessee's total income under the head Income from House Property regardless of ownership status; a deduction equal to thirty per cent of those arrears or realised unrealised rent is allowed.
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