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Depreciation on commercial flats
does depreciation is provided on commercial flats ?
Replies (9)
No you can't
If it is individually owned not possible.
But why , life of the building is not infinite
Depreciation is applicable on assets owned by enterprises.
Because such income not declared under business & profession.
Buildings – 10% Depreciation Rate
All types of buildings with are not used for residential purposes can be charged with a 10% depreciation rate.
Comercial flats are depreciated.
Please note that the flat is owned by firm sir
Nice! How is it indefinite? It's is not indefinite because you have the life span. It is only depreciated when it is owned by the firm.
But only renting of flats is your business
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