Answers On Topic: deemed rent
  Sec. 23(5) Deem rent in the hands of developers
Assessee is developers of the real estate and is having unsold units in the projects developed by him. In respect of unsold units completion certificate from the competent authority   has been received in the year 2015-16. Assessing officer has made the addition on account of deemed rent in the hands of assessee in the A.Y. 2018-19 and he has relied upon the provisions of Sec. 23(5) which are applicable for 1.04.2018. Assessee has submitted that Sec. 23(5) is beneficial provision and applicable form 1.04.2018 and therefore two years moratorium period given in the SEc. 23(5) is applicable and therefore no…

► Read Answer