ARREARS OF RENT RECEIVED SUBSEQUENTLY (Sec. 25B)

• Where any arrears of rent is received which was not taxed earlier, such rent shall be assessed under the head "Income from house property" in the year of Receipt.

• The arrears would be taxable under this head irrespective of the fact whether the assessee is the owner of the buildings in the year in which such arrears are received

• A deduction of 30% on account of repairs on the arrears of rent received would be allowed in the year in which such arrears are taxable.