Depreciation query

As pointed out by you, the asset must be used for Business or Profession. This usually happens when the building is given to employees for residential purposes by the assessee employer. In such cases, the building is to be depreciated @ 5%. The number of buildings used for business as residential building is not relevant. All buildings are eligible if used for Business or Profession.

If you are owning and using properties for residential purposes and not for Business purposes, no depreciation is allowed.