DEPRECIATION ON LET OUT PROPERTY IN BOOKS BY LLP WHERE INCOME IS CHARGEABLE AS HOUSE PROPERTY


This query is : Resolved 

Quick Summary
This discussion clarifies whether an LLP must book depreciation for a let-out property when its income is taxed under the 'Income from House Property' head. The consensus is that it is optional for the LLP to record depreciation in its accounting books for such properties.

02 May 2021 Whether it is mandatory or optional for an LLP to book depreciation in books on let out property where income is chargeable under head Income from House Property

03 May 2021 It's optional for LLP to book depreciation in the books of accounts for house property let out.

04 May 2021 Thank you R Seetharammanji for your reply


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