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
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- Computation of Dividend
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- ITC BENEFIT ON BROKRAGE PAID
- Sale of Mutual Funds In Diffirent Financial Years
- DUE DATE FOR ITR FILING
- U/S 194 T
- 44AD, 44ADA business details
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
