Depreciation and rent income

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ashok bhurani (Querist)
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21 October 2017 Assesse used commercial property for his own business purpose and charges depreciation on it as per section 32. Suppose that assesse has used the property for the part of the year and thereafter let out for rent. Will depreciation be allowed in such case for the part of the year for which assesse used the property for his own business?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 Yes you can claim dep for part of year......

ashok bhurani

ashok bhurani (Querist)
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22 October 2017 Thanks Rashmi
But in today's age all use tax softwares but no software provides the facility of calculating depreciation for part of the year. Can you help in that

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 Calculation of depreciation made for whole year but you have to disallow half which is not used for business.

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ashok bhurani

ashok bhurani (Querist)
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22 October 2017 Thanks Rashmi for your reply

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 Welcome Dear.....

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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22 October 2017 Show disallowed dep in coln 7(c) of Part A-OI of ITR-3.

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