Depreciation whether compulsory
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2015
I have a total income around Rs.10.00 lac. from the house property. In addition, I have purchased 2 buses after bank finance and the hire charges are received from the bus (run in school). If i claim depreciation on the buses, there comes net loss from the hire charges income. Whether this loss can be set off against the income from house property ? Or it is better not to claim depreciation on the buses during 1st year ? Please advise me .
13 November 2015
yes, you can set off business loss from house property income
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- DUE DATE FOR ITR FILING
- Gst reverse charge mechanism to be claimed in the month of payment
- Error in uploading Form 10BD
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- GST ISD Query on various AMCs
- U/S 194 T
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
