What is tax rate for arrears?

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What is tax rate for arrears?

Can you please explain me how are arrears of rent taxed?

Profile photo of Sharvari Jawale Asked By: Sharvari Jawale 1 replies 0 helpful answers Last Updated: 6 months, 2 weeks ago
  • Profile photo of Sharvari JawaleSharvari Jawale
    Participant

    Can you please explain me how are arrears of rent taxed?

  • Profile photo of Chetan ChandakChetan Chandak
    Moderator

    The amount received on account of arrears of rent (not charged to tax earlier) will be charged to tax after deducting a sum equal to 30% of such arrears. It is charged to tax in the year in which it is received. Such amount is charged to tax whether or not the taxpayer owns the property in the year of receipt.

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