Deduction u/s 24 and depreciation
This query is : Resolved
11 September 2022
I have an income from a let out house property on which I am climbing depreciation in my books.
My question is while calculating income tax is standard deduction @30% under section 24 allowed?
Can I claim the benifit of both depreciation and std. deduction on the same.
Or shall I've to cease depreciation.
My question is while calculating income tax is standard deduction @30% under section 24 allowed?
Can I claim the benifit of both depreciation and std. deduction on the same.
Or shall I've to cease depreciation.
11 September 2022
No. You cannot claim depreciation when the rent income is declared under IFHP.
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