Section 23(1) contemplates the possible rent that the property ...

Potential Rent Income Excludes Interest from Tenant's Fixed Deposit u/s 23(1); Not Taxable as Business or Property Income.

June 6, 2017

Case Laws Income Tax AT

Section 23(1) contemplates the possible rent that the property might fetch but certainly not the interest in the fixed deposit that may be placed by the tenant with the landlord in connection with the letting out of such property. The notional interest was not assessable either as business income or as income from house property. - AT

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Section 23(1) contemplates the possible rent that the property ...

Potential Rent Income Excludes Interest from Tenant's Fixed Deposit u/s 23(1); Not Taxable as Business or Property Income.

June 6, 2017

Case Laws Income Tax AT

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