Security Deposit received for Rent agreement - DPT3

[CS dipti Bhatt]

Dear Members,

Security deposits received by a company for the rent agreement of the property  - is an exempt deposit?

WITH BEST REGARDS,

CS DIPTI HARSHAL BHATT  

[satish Jain]

yes

S. V. JAIN & Associates

Company Secretaries

201, Zeba Apartments, 33-B,

Hill Road, Bandra West,

Mumbai-400050

8898666576/8850463751

Navi Mumbai Office

Shop No. 14, Neel Empress,

sector 1S, HDFC Bank Building, 

New Panvel-410206

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[Rahul Kumar]

Any non interest bearing Security Deposit is exempt 

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Regards

Rahul Kumar

+91-9999868319

[CS dipti Bhatt]

ok. thank you.

WITH BEST REGARDS,

CS DIPTI HARSHAL BHATT  

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[ANUBHAV NIGAM]

What if any advance from a customer is lying in the books for more than 365 days??

Will it also be considered under Exempt Deposit?

On Tue, Jul 11, 2023 at 5:18 PM Rahul Kumar <krahu...@gmail.com> wrote:

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[mukesh mishra]

No. If it's abnormal (like business doesn't warrent advance for such long time)

Non interest bearing security deposit under contract are exempt

Thanks

Mukesh Mishra

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