Poonawalla fincorps
Poonawalla fincorps

Depreciation

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(Querist)
15 September 2008 If a building is revalued then is the revalued amount subject to deprecation as per Income Tax Act, 1961??
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
16 September 2008 There is no connection between depreciation as per IT Act and revaluation as per market value. Irrespective of your revaluation, the block as per IT Act remains the same. Irrespective of what ever be your block, you can revalue buildings as per market value.

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