14 June 2010
A residential building is depreciable @ 10%. Does it mean that if an individual owns a residential building & has shown that building in his ITR (ind.)which has raised his capital, will be depreciated @ 10%? If not Why?
14 June 2010
Depreciation is not provided on assets held by Individual. If the asset is used for some business or profession then only depreciation can be claimed against the profits or losses from that business or profession.
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