Depriciation

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ca.singh

ca.singh (Querist)
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13 August 2013 Can we claim depriciation on a building which is rented out,,??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 August 2013 Yes you can claim depreciation.

CA Vijeta Verma

CA Vijeta Verma (Expert)
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13 August 2013 yes owners are permitted to claim it.claim it under Income from other sources

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CA Parul Saxena

CA Parul Saxena (Expert)
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13 August 2013 Depreciation can be claimed if the property is used for business purpose if renting out an immovable property is not your business then income will be taxed under 'Income from house property' and depreciation can not be claimed only deduction u/s 24 can be claimed @30%.

ca.singh

ca.singh (Querist)
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13 August 2013 thank you for your time. in my case the assessee is a engaged in business of renting out of properties and has no other business.

Secondly there is another firm which is a manufacturing unit and has let out one of its property on rent

what are the depreciation provisions are applicable on the above 2 cases.