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PGBP query

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5 Points Posted on 12 August 2019
I have a client who has a rented shop and has done renovation of the shop, the amt being 40-50L , the nature of exp being capital can this person afd it as an asset(building) and claim depreciation on the same??
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On 12 August 2019 at 13:20 Report
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SEO Sai Gr. Hosp.
211582 Points Posted on 12 August 2019

It can be capitalized, but depreciation cannot be claimed u/h. IFHP.

581 Reply
On 12 August 2019 at 13:23
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5 Points Posted on 12 August 2019
depreciation can be claimed in pgbp??
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On 12 August 2019 at 13:25
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SEO Sai Gr. Hosp.
211582 Points Posted on 12 August 2019

But rental of shop is assessed in IFHP ..

581 Reply
On 12 August 2019 at 13:45
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17264 Points Posted on 12 August 2019
Here the querist is paying rent (he is having rented shop)
101 Reply
On 12 August 2019 at 14:24
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Financial advisor
591 Points Posted on 12 August 2019

Yes he can claim depreciation on cost of construction/renovation spent on shop.

2 Reply
On 12 August 2019 at 17:19


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