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Depreciation on building

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(Querist)
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) ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
05 May 2014 yes. notional depreciation shall be applicable. Further, employee shall be liable for inclusion of perquisite for rent free accommodation.
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Rupesh Jain

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Rupesh Jain (Expert)
05 May 2014 yes you can claim deprecation.
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