Depreciation on asset let out
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2010
I have one house property in which one room is kept for my own business & rest 90% of the property is being let out from November, 2009 onwards. I am earning rental income from this property.
Now the question is:
1. Whether I can claim this rental income as my business income? (My primary business activity is dealing in properties)
2. whether I can claim depreciation on this property since i am also earning rent from it? If yes, to what extent?
Now the question is:
1. Whether I can claim this rental income as my business income? (My primary business activity is dealing in properties)
2. whether I can claim depreciation on this property since i am also earning rent from it? If yes, to what extent?
23 September 2010
As per section 22 the income is to be offered under the head income from house property,you being the owner of the property.
In view of the above, you are not entitled to depreciation.
In view of the above, you are not entitled to depreciation.
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