dep on let out property
This query is : Resolved
23 July 2010
CAN WE CLAIM DEP ON LET OUT PROPERTY , WHERE IN WE DON'T HAVE ANY BUSINESS INCOME
23 July 2010
Income from let out property has to be offered under the head "Income from house property" on which depreciation claim will not be allowed.
23 July 2010
agreed with sir
the deductions allowed are municipal taxes, interest on loan if any and standard deduction of 30% on the Annual value
the deductions allowed are municipal taxes, interest on loan if any and standard deduction of 30% on the Annual value
23 July 2010
Agree with expert.
Simple logic since you are getting 30% deduction you cant claim depreciation on same. You cant take double benefit.
If you claim depreciation then income will be treated as business income and not as income from house property and hence not eligible for 30% deduction.
Simple logic since you are getting 30% deduction you cant claim depreciation on same. You cant take double benefit.
If you claim depreciation then income will be treated as business income and not as income from house property and hence not eligible for 30% deduction.
23 July 2010
AGREED WITH EXPERTS.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank accounts of Non resident
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
