Impotant
This query is : Resolved
25 September 2014
The nature of business is trading . As a course of business a debtor couldn't repay the amount and a building was given to us as a consideration. The building is let out and rent is received . That income is charged under Income from House Property. What is the treatment of Building acquired and its treatment in Income Tax. Can we claim depreciation on the building acquired. If yes please state the Section for my future reference.
25 September 2014
no. you cannot claim depreciation on this building once it is covered under income from house property
Message likes :
1 times
25 September 2014
What is the treatment of Asset received in accounts and for the purpose of Income Tax
29 July 2024
https://docs.google.com/document/d/1SOh8vU94IKpyHvlUJ9XkfzE7-1kUEOmd6DUBTwaMW0U/edit?usp=sharing
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
Unanswered Queries
- TDS DEMAND.
- TDS-Fixed assets
- 139(4) for ITR-5- audit
- Joint Account Closure
- RCM PAID ON RENT IN RESTAURANT BUSINESS @ GST RATE 5%
- Registartion of trust
- TDS can We Adjust 194C Amount to 194J
- Regarding Claim of ITC of FY 2020-21
- Mentioned xyz as employer name instead of xyz LLC in ITR
- Reversal of unutilized ITC can be paid through ITC
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
