Depriciation

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vivek bothra

vivek bothra (Querist)
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04 June 2013 whether to claim depriciation for bulding or not which is advisable

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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04 June 2013 Why is doubt over it. Why you don't want to claim depreciation.

vivek bothra

vivek bothra (Querist)
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05 June 2013 i have seen many dont claim dep bcz their building gets depriciated

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vivek bothra

vivek bothra (Querist)
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05 June 2013 tom if a sale i have to pay huge tax bcs my cost will go down

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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05 June 2013 How is that possible? "many dont claim dep bcz their building get depriciated".

How one can do not claim depreciation because their building get depreciated ??

Anyways, depreciation should be claimed, no doubt over that.

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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05 June 2013 It will otherwise also be taxable. Income Tax do not follow your calculation. After 1988, depreciation is deemed to be allowed irrespective of whether you have claimed it or not.
Capital Gains will be taxable at WDV only.

vivek bothra

vivek bothra (Querist)
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05 June 2013 but were i worked i have not seen any of files where building is depriciated

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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05 June 2013 I confront many such cases where something incorrect is going on and people take is as a benchmark.
If no one change it, it will never be changed. So that no one will ever see building getting depreciated.

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