Depreciation on renovation of leasehold property

tejas (article) (75 Points)

02 April 2015  

Can we claim depreciation on Fixed Furniture attached to wall in case of leasehold shop or store?

Can we claim depreciation on extensive renovation made (like flooring, lighting, painting etc.) on leasehold shop or store??? or should we claim it as Revenue Expenditure as per section 30 of Income Tax Act 1961???