Depriciation
This query is : Open
13 August 2013
Can we claim depriciation on a building which is rented out,,??
13 August 2013
Yes you can claim depreciation.
CA Vijeta Verma
(Expert)
13 August 2013
yes owners are permitted to claim it.claim it under Income from other sources
CA Parul Saxena
(Expert)
13 August 2013
Depreciation can be claimed if the property is used for business purpose if renting out an immovable property is not your business then income will be taxed under 'Income from house property' and depreciation can not be claimed only deduction u/s 24 can be claimed @30%.
13 August 2013
thank you for your time. in my case the assessee is a engaged in business of renting out of properties and has no other business.
Secondly there is another firm which is a manufacturing unit and has let out one of its property on rent
what are the depreciation provisions are applicable on the above 2 cases.
Secondly there is another firm which is a manufacturing unit and has let out one of its property on rent
what are the depreciation provisions are applicable on the above 2 cases.
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