Depreciation
This query is : Resolved
07 July 2012
can anyone tell me whether depreciation is allowable on residential building of a proprietor?
07 July 2012
INCOME TAX ALLOW ONLY BUSINESS EXPENSES.
EXPENSES RELATING TO BUSINESS ONLY.
EXPENSES RELATING TO BUSINESS ONLY.
Message likes :
1 times
07 July 2012
thanks sir but can u plz elaborate it more?
i still have some confusion left.
i still have some confusion left.
09 July 2012
I mean to say.Building must be used for business purpose or incidental to business.for the purpose of deduction.
10 July 2012
thank u sir..
10 July 2012
Part of depreciation on building is allowed if any part of it is used for the purpose of business or profession.
Message likes :
1 times
13 July 2012
thank u mr.amit
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
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Bank Accounts in Balance Sheet for ITR 3
- ITR 1: Details for showing Exempt Income
- 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
- Annexure B utility for GST Refund
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
