Rent on machinery
This query is : Resolved
CA jyoti karamchandani
(Querist)
26 June 2013
income from machinery belonging to assessee and let on hire is taxable as income from other sources, so the depreciation can be claim on such machinery????
CA PARAS BAFNA
(Expert)
26 June 2013
Yes, Depreciation can be claimed on the machinery given on rent.
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26 June 2013
Yes. Depreciation can be claimed irrespective of whether machinery is used in process or given on rent.
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