Depriciation
This query is : Open
13 August 2013
Can we claim depriciation on a building which is rented out,,??
13 August 2013
Yes you can claim depreciation.
13 August 2013
yes owners are permitted to claim it.claim it under Income from other sources
13 August 2013
Depreciation can be claimed if the property is used for business purpose if renting out an immovable property is not your business then income will be taxed under 'Income from house property' and depreciation can not be claimed only deduction u/s 24 can be claimed @30%.
13 August 2013
thank you for your time. in my case the assessee is a engaged in business of renting out of properties and has no other business.
Secondly there is another firm which is a manufacturing unit and has let out one of its property on rent
what are the depreciation provisions are applicable on the above 2 cases.
Secondly there is another firm which is a manufacturing unit and has let out one of its property on rent
what are the depreciation provisions are applicable on the above 2 cases.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Confusion around Form 26QB fields
- Sale of property furniture sale
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
