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Depreciation on let out property

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(Querist)
29 June 2016 I have building in india taken loan for the same. I have given the building on lease to a company.I do not have any income in india other than rental income. Is depreciation is allowed on this property for Income tax calculation purpose.
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Rupesh Jain

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Rupesh Jain (Expert)
29 June 2016 no depreciation will allowed, you get deduction 30% u/s 24(b) when you calculate the net income from the house property. its all exp. for the property allowed under the income tax act.


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Rajendra Prasad

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Rajendra Prasad (Querist)
30 June 2016 Thank you for the help
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