02-05-2010, 03:22 AM
Dear,
10% of the security deposit, which should be Non-adjustable deposit as per agreement, be added to the yearly rent and rate will be applied on the later amount.
Lets suppose yearly rent is Rs. 500,000 and non adjustable security deposit is Rs. 200,000, then 10% of 200,000 or Rs. 20,000 will be added to Rs. 500,000 and the rate will be applied at Rs. 520,000, that is to be considered as Rent Chargable to Tax, RCT.
Let me know if confusion still exist.
Regards,
10% of the security deposit, which should be Non-adjustable deposit as per agreement, be added to the yearly rent and rate will be applied on the later amount.
Lets suppose yearly rent is Rs. 500,000 and non adjustable security deposit is Rs. 200,000, then 10% of 200,000 or Rs. 20,000 will be added to Rs. 500,000 and the rate will be applied at Rs. 520,000, that is to be considered as Rent Chargable to Tax, RCT.
Let me know if confusion still exist.
Regards,
