depriciation of land and building

dear friend

if the amount of rent exceeds rs.120000 then they are correct and depreciation rate on building is 15% general(wdv)

NAMBIRAJAN sir,

Regarding the rent collected on letting out to the corporate office will be assessed under the head " Income from house property" and only flat rate of 30% of NAV shall be allowed as deduction. Depreciation is not permissible.

for claiming depreciation, asset must be used for  business or profession, here assesses main business relates to rent shamianas and tables and chairs, so his rental income received from corporate office is covered under income from house property

No dep.... just std deduction under sec 24

No dear, here you will not get the depreciation as the building is not used in bussiness.

you will get the benefit of standard deduction u/s 24(i.e. 30% of the rent recieved). under the head income from house property

for income tax purpose dep will not be allowed as this income will be taxable u/h Income from house property. 

company is right in deducting tds @ 10% .

Yes I agree with rustagi
tarun rustagi

i would like to thank one and all those who had given their valuable suggestions.