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 .
Amol S Joglekar
(Expert)
13 November 2015
yes, you can set off business loss from house property income
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