Advance rent inclusion treats prepaid rent as gross rent attributable to the financial year to which it relates. The amount of rent received in advance must be included in the gross rent of the financial year to which the rent relates, allocating prepaid rental ... Summary
Advance rent inclusion treats prepaid rent as gross rent attributable to the financial year to which it relates.
The amount of rent received in advance must be included in the gross rent of the financial year to which the rent relates, allocating prepaid rental receipts to the period to which they pertain for purposes of income from house property.
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