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Depriciation

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(Querist)
07 May 2008 can i claime depriciation as per I T Act 1961 Or Companies Act,1956 on Rental property on which rent recieved
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
07 May 2008 whether this is income from business or house property if it is hous property then dep.is not allowed & if rent is business income then you will complete your books as per comanies act & when you file income tax return then you will add dep.as per comp.act & deduct dep.as per income tax act so your final accounts are submitted to company law board
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O.D.SHARMA

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O.D.SHARMA (Expert)
07 May 2008 depreciation as per income tax isbefore sept & after sept. but what about Co.Act is this on days basis.
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