My company has given its gowdown @ rent and is offering its income under income from house property. hence claiming 30% std. deduction but not claiming deduction u/s 32 of it act for depreciation.
But since it is a co whether it is required to make provision for depreciation as per co act.
Yes....the Godown is an asset of the company....so naturally it is to depreciated.....Income Tax tax the Income as HP whch is not relevant in preparing accounts.....
what about deferred tax?
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