A Doctor maintained a private hospital own construction commercial building
ground floor used for hospital
first floor used for hospital
second floor used for residential purpose
question:
assessess depreciation claim on Total construction value or commercial used only.
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Depreciation claim total building value or commercial building used only
Replies (3)
The doctor can only claim depreciation on the portion of the property that is used for commercial purposes, i.e., the ground floor and the first floor used for the hospital. The second floor, which is used for residential purposes, cannot be claimed as a depreciable asset since it is not used for commercial purposes.
Depreciation should be over commercial asset only. Segregate the assets used for commercial purpose first, then charge depreciation.
When fixed assets register are being maintained segregation is maintained there. Accordingly the depreciation will be claimed on the portion of asset used for furtherance of business
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