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Depreciation deduction
If a director is residing in a guest house owned by company , can company claim depreciation deduction for that property and whether perquisites will be taxable or deduction will be allowed
Replies (9)
If a company own guest house. It can claim deprecation on it
If a company own guest house. It can claim deprecation on it @ 5% inrespective whether director is residing in it or not .
If a company own guest house. It can claim deprecation on it @ 5% inrespective whether director is residing in it or not
then whether it will be treated as perquisite ?
Yes It will..Provided that there is employer employee relationship between company and director
deduction for both will be provided
Only Company will get deduction of deprecation while perquisite will be added in salary of director
any relevant case law for this ?
No Idea...
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