Can I claim depreciation

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joaquim (Querist)
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22 July 2009 I brought a flat in goa for Rs. 80,00000 and given for rent.

My Question is can i claim depreciation under income-tax laws

chetan soni

chetan soni (Expert)
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22 July 2009 Income from house rent is taxable as income from house property. Whereas depreciation is business expenditure & hence it will be allowed to you. Unless your business is buying property & give then on rent.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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22 July 2009 The income is neither business income or income from other sources. You can not claim depreciation.

The income is chargeable under the head " Income from House Property". You will be eligible for standard deduction u/s 24.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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22 July 2009 u can not claim depreciation as its income from house property

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