Amendment status not verified — confirm the current text below against the official source.
(1) The security deposit to be paid by the tenant in advance shall besuchasmaybe agreed upon between the landlord and the tenant in the tenancy agreement, which shall - (a) notexceed two months rent, in case ofresidential premises;and (b) not exceed six months rent, in case of non-residential premises. (2) The security deposit shall be refunded to the tenant on the date of laking re. possession of the premises from the tenant, after making due deduction of any liability of the tenant. CHAPTER - IV RIGHTS AND OBLIGATIONS OF LANDLORD AND TENANT