Dep on gowdown rented as per pro. of co act
This query is : Resolved
CA Pramod Jain
(Querist)
24 July 2013
My company has given its gowdown @ rent and is offering its income under income from house property. hence claiming 30% std. deduction but not claiming deduction u/s 32 of it act for depreciation.
But since it is a co whether it is
required to make provision for depreciation as per co act
But since it is a co whether it is
required to make provision for depreciation as per co act
01 August 2013
Yes depreciation has to be provided as per Companies Act
minimum dep rate as per Sch XIV is 1.63% SLM
And this is classifiable as Investment property category as per revised schedule VI
minimum dep rate as per Sch XIV is 1.63% SLM
And this is classifiable as Investment property category as per revised schedule VI
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