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29. Provision for arrears of rent received
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29. Provision for arrears of rent received.—(1) The amount of rent received in arrears shall be deemed to be the income from house property of the financial year in which such rent is received.
(2) The arrears of rent referred to in sub-section (1) shall be included in the total income of the person under the head income from house property, whether the person is the owner of the property in that year or not.
(3) A sum equal to twenty per cent. of the arrears of rent referred to in sub-section (1) shall be allowed as deduction towards repair and maintenance of the property.
Clause 29 provides that income in respect of the rent received in arrears in a financial year shall be computed under the head "Income from house property", whether or not the person continues to be owner of the property in that year. The said clause also provides that the amount of rent referred to above shall be included in the gross rent under clause 26 for that financial year.
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