The relevant provision of the Income Tax Act says that depreciation can be claimed on only one office or factory building. Which is that relevant section? Kindly reply with exact sub-section and clauses if any that support the relevant provisions of the Act.
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Depreciation on office/factory building
Replies (6)
Sir,
Are you sure?? In my opinion there is no such general provision..May be you are talking about some scenario in which depreciation only on one factory building or office can be claimed.
Fatema.
Mam,
It may not be. Actually, I'm not sure about the existence of any such provision that's why I have posted a query at the forum.
Reards.
There is no such provision..Claim depreciation if used for business purpose.
Ok, thanks. Is there any restriction on the number of buildings on which depreciation can be claimed?
as such there is no restriction of number of building on which depreciation can be claimed
Ok, thanks.
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