A Pvt Company recieved income from house property and in return same is taxable as Income from House property and no other business income earn by the company during the financial year 2009-10. should company claim Depreciation on such Building as per companies Act & Income Tax....
02 June 2010
Since the income is taxable under Income from house property in which it must have claimed Standard deduction u/s 24. Hence no further deduction u/s 32 for depreciation will be allowed
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