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Income Tax - Highlights / Catch Notes

Home Highlights December 2015 Year 2015 This

Treatment of rental receipts for the purpose of Income-tax - ...

Income Tax

December 22, 2015

Treatment of rental receipts for the purpose of Income-tax - Possession of the property was not taken by the tenant. Hence, the monies received by the assesses will not take the character of rentals - No additions - AT

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  1. Valuation of Rental Income - GST - Deduction of property taxes and other statutory levies - treatment of notional interest on the security deposit - All taxes levied...

  2. Income from house property - Rental income inclusive of service tax - whether should be deducted from the gross rental receipts? - Held Yes - AT

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