Taxation of arrears of rent: taxed when received after prescribed deduction; applies even if property not owned in receipt year. Arrears of rent are taxable in the year of receipt as income from house property after allowing a 30% deduction on such arrears; this taxability applies ... Summary
Taxation of arrears of rent: taxed when received after prescribed deduction; applies even if property not owned in receipt year.
Arrears of rent are taxable in the year of receipt as income from house property after allowing a 30% deduction on such arrears; this taxability applies even if the recipient does not own the property in the year of receipt.
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