Query in regard to deduction

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sanchit aggarwal (Querist)
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30 August 2014 if a building is under construction and completed its construction in december 2013 and from january 2014 it let out its building to another company.the furniture & fixture and building is not separable. The rent is payable by the co as rent for building and rent for furniture and fixture separately.
know the query is whether whole rent is taxable as hose property or whther rent for furniture will be taken for pgbp.
and whether building depreciation will be claimed till december as income tax allows f/y depreciation.
please resolve the query as this is on urgent basis and try to elaborate in laymen language + applicable section for the same

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 August 2014 As the furniture and fixture and building is not separable entire rent may treated as income from house property. 30% standered deduction may be claimed instead of depreciation.

sanchit aggarwal

sanchit aggarwal (Querist)
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30 August 2014 and what abt depreciation

Rupesh Jain

Rupesh Jain (Expert)
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30 August 2014 not depreciation deduction 30% will allowed.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 September 2014 Instead of claiming depreciation 30% standard deduction is advantageous.

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