dear sir
depreciation are compulsory on residential flat
because depreciation decrease value of property
in future sell of property can be excess capital gain
please explain
In my opinion:
Explanation (5) of section 32 clarifies that depreciation is to be compulsory deducted.
However, Section 32 falls under chapter IV part D which is "Profits from Business and Profession". Thus for claiming depreciation on any asset such asset must be part of your business/profession.
Thus if you are referring to your residential property then NO depreciation provisions would apply unless it used for business/profession (on proportional basis).
CAclubindia
