Special provision for arrears of rent: arrears taxed as income from house property in year of receipt. Arrears of rent received that were not previously charged to tax are deemed to be income under the head Income from House Property in the year of receipt. One fourth of such arrears is deductible for repairs and collection of rent, and the balance is chargeable to income-tax as that previous year's income, irrespective of whether the assessee is owner of the property in the year of receipt.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special provision for arrears of rent: arrears taxed as income from house property in year of receipt.
Arrears of rent received that were not previously charged to tax are deemed to be income under the head Income from House Property in the year of receipt. One fourth of such arrears is deductible for repairs and collection of rent, and the balance is chargeable to income-tax as that previous year's income, irrespective of whether the assessee is owner of the property in the year of receipt.
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