no you can't as you gave given it on rent and earning it so your income is to be taxed as house property. you can deduction towards municipal taxes paid from the rent rec'd and on balance you can claim 30%STD deduction. if there's any Lin then you can also claim deduction on interest paid upto RS.2lacs
under which head of income you are showing rent income..it should be under income from house property..and if so you must have claiming standard deduction of 30% of net annual value...then you can not claim depreciation... under which head of income you are claiming depreciation