Rental property
This query is : Resolved
30 December 2015
Treatment for expenses on rental property...can it be capitalised?
Amol S Joglekar
(Expert)
30 December 2015
Not required to be capitalised as per income tax. In books of accounts, if you wish, you may capitalise the same under intangible asset viz. tenancy rights.
Ankur Singhal
(Expert)
30 December 2015
Repair on the rented building can be capitalized under income tax act. The capitalization is deemed as Deemed building. Then you can claim depreciation on the deemed building.
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