Depreciation on rented building wall
This query is : Resolved
23 July 2013
Can we capitalize the expenditure on construction of boundary wall in rented building?
If we have an ownership then what will be the provision?
If we have an ownership then what will be the provision?
CMA Ramesh Krishnan
(Expert)
25 July 2013
Incase rented premises, need to charge off, not to capitalise
Incase own premises, add the the existing building value of the asset
Incase own premises, add the the existing building value of the asset
26 July 2013
Dear Sir,
In income tax, there is a clause in depreciation for claiming depreciation on improvement, renovation & repair on rented building.
In income tax, there is a clause in depreciation for claiming depreciation on improvement, renovation & repair on rented building.
CMA Ramesh Krishnan
(Expert)
26 July 2013
Yes. incase your own building you can add as asset and claim.
For rented building, there is possibility of improvement since the original asset it self not yours.
For rented building, there is possibility of improvement since the original asset it self not yours.
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