I made an expenditure for rented shop on amount of rs. 20lakhs for ceiling and tiles work, how can I claim that expenditure in income tax by filing return and also required applicable provisions
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Regarding expenditure on rented building by tenant
Replies (2)
it is a deemed building.
. you can claim depreciation... refer explanation to section 43(1)
. you can claim depreciation... refer explanation to section 43(1)
you can claim it under leasehold improvements. it should be depreciated over the period of lease lock in period. if there is no lockin it will be advisable to claim it as an expenses.
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