Depreciation on Investment

Indian Accounting Standards 874 views 5 replies

Suppose a company purcahsed Resedential Building for the purpose of letting  & the same is showned under Investments.

Whether depreciation can be claimed as asset is showned under Investments?

Replies (5)

Depreciable asset as per AS- 6include

held by an enterprise for use in the production or supply of

goods and services, for rental to others, or for administrative

purposes and not for the purpose of sale in the ordinary course of

business.

 

so we need to provide depreciation

I agreed with Mr.Sudhakar

 agreed with Mr.Sudhakar
 

can we claim depreciation on this building under Income tax act ?

I agreed with Mr.Sudhakar


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