Mr. A have a house property built in 2004 which contains :
1. Under Ground : Using For his own Business
2. Ground Floor : Residense of Mr. A and his family
3. First Floor : Let out and earning Rent.
Mr. A Taken a loan against property on such Property. He wishes to show his Building in his Balance Sheet and Claim Depreciation. Business Started in 2016.
Q. 1 : Can Mr. A show Building in his balance sheet?
Q 2 : If Yes, Then at Which Value he can take his property in Balance sheet? (Cost, NRV, Latest Revalution Report by Authorised Personnel.)
Please Solve Problem
CAclubindia
