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Notional rent and building

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 August 2011 Friends,

One of My friend doing business at home. In preparation of financial statement of my friends shall i claim Notional rent or Deprecation on Building.
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CA Rajeev Bansal

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CA Rajeev Bansal (Expert)
28 August 2011 you can claim depreciation on the house proportionately on the area in which business is carries on.
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Ravi Jhamb

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Ravi Jhamb (Expert)
29 August 2011 Yes he can claim the deduction. Depreciation is treated as Expenses of the PBGP Head income.
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