03 August 2012
One Company has letout there Factory Premices along with there all fixed assets to another company. The Company has only Rent income now.
Company wanted to claim the Depreciation under Income Tax Act.
Whether it is allowable to claim the depreciation under income tax act?
03 August 2012
Under existing Income Tax Act you can claim depreciation out of the rental income provide d you are treating this income as business income but under the proposed DTC this income will be charged under House Property only...
CAclubindia
