depreciation on leasehold building
This query is : Open
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)?
16 November 2016
Only the depreciation on capital expenditure incurred can be claimed as per the provisions of section 32(1).
16 November 2016
thank you sir
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