Sankar let out a property on rent up to 30th June, 2019 and thereafter sold the property. The tenant has not paid rent for 12 months prior to 30th June, 2019. In January, 2023 based on court decree Sankar received ₹3,40,
CS Executive · Tax Laws · PYQS · June 2023
Sankar let out a property on rent up to 30th June, 2019 and thereafter sold the property. The tenant has not paid rent for 12 months prior to 30th June, 2019. In January, 2023 based on court decree Sankar received ₹3,40,000 from the tenant by way of rent. He does not own any other house property. He incurred ₹70,000 towards advocate fee. How much of the amount received by Sankar is liable to tax?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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