Depreciation on assets taken on rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2015
Dear Sir,
Can anyone let me known about Depreciation on assets taken on rent.
can we charge the depreciation on them ??
Can anyone let me known about Depreciation on assets taken on rent.
can we charge the depreciation on them ??
Vishnu Saboo
(Expert)
06 May 2015
i dont think so, as you are paying rent and claiming it as expenses, so claiming depreciation altogether must not allowed as you are not the owner.
06 May 2015
You can not avail dual benefit. Both Rent paid and Depreciation can not be claimed. Further Depreciation can be claimed on assets owned not on asset taken on rent.
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