depreciation on leasehold building

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Nikhilesh V Gomase (Querist)
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16 November 2016 Business is carried on in a building taken on lease and the assessee has made capital expenditure towards renovation of building. Can the assessee (lessee) claim depreciation on building as well as capital expenditure under the provision of section 32(1)?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 November 2016 Only the depreciation on capital expenditure incurred can be claimed as per the provisions of section 32(1).

Nikhilesh V Gomase

Nikhilesh V Gomase (Querist)
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16 November 2016 thank you sir

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