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Depreciation on rented building wall

This query is : Resolved 
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(Querist)
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?
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CMA Ramesh Krishnan

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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
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hitesh

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hitesh (Querist)
26 July 2013 Dear Sir,
In income tax, there is a clause in depreciation for claiming depreciation on improvement, renovation & repair on rented building.
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CMA Ramesh Krishnan

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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.
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