Depreciation on let out property
This query is : Resolved
Rajendra Prasad
(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.
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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My answer is usefull for you, pls send like.
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Rajendra Prasad
(Querist)
30 June 2016
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