25 June 2014
If an assessee have a house property as a asset in his business and rented out the same.Assessee rented the same property during the year and claims standard deduction @30% on it.whether assessee can claim depreciation from business income also? case 1: it is not put to use in business of assessee Case 2: it is used in business by assessee during the year
25 June 2014
it the assets use in business and also in book of accounts the you can claim the depreciation and if you not use un business and rent out the property then you cannot claim the depreciation only claim u/s 24 (b) 30% and interest paid on loan if you take.