depreciation on rental premises
This query is : Resolved
09 September 2010
Can we charge depreciaton on rental buildings as per company act. While we geting deduction u/s 24 b of Income tax act 1961.
09 September 2010
U can charge in the books but the same will not be allowable in income tax.
In IT only 30% of rent deduction allowable u/s 24(b).
In IT only 30% of rent deduction allowable u/s 24(b).
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