23 July 2010
Income from let out property has to be offered under the head "Income from house property" on which depreciation claim will not be allowed.
23 July 2010
Agree with expert. Simple logic since you are getting 30% deduction you cant claim depreciation on same. You cant take double benefit. If you claim depreciation then income will be treated as business income and not as income from house property and hence not eligible for 30% deduction.
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