banner_ad

Depreciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 April 2014 wht will be the wdv if house property is converted into an office after using the same for 3years and 6 months
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
09 April 2014 on land there is no depreciation that can be applied but the valuables that is to be used needs to be depreciated seperately like sofa set , if is to be used for business.
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
11 April 2014 in such a case explanation 5 to section 43(1) shall apply. the cost of the building as reduced by the depreciation (as it would been charged had the building been used for business from day 1) shall be the cost of the building in business books.


for the other assets within the building such as furniture etc shall be brought in the business at any agreed cost.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details