Depreciation on building
This query is : Resolved
05 May 2014
Building used for personal purpose subsequently brought into the business of the assessee to provide rent free accommodation to one of his employee. whether notional depreciation to be computed in this case (explanation 5 to sec 43) ?
05 May 2014
yes. notional depreciation shall be applicable. Further, employee shall be liable for inclusion of perquisite for rent free accommodation.
05 May 2014
yes you can claim deprecation.
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