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about section 32 depreciation
Anybody tell me under the section 32 depreciation if person use building in business which taken on the basic of lease for 20 years so will I calculate depreciation over this building for 20 years
Replies (2)
yes you can take rate lower than the specified rate in the Rules..but not more than that
No only lessor is allowed to claim depreciation...HOWEVER for any capital expenditure incurred by you on the building, you will be the deemed owner ( as per explanation 1 to sec 32(1) ) and can claim depreciation on that amount @ 10%
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