hello sir
i have commercial property given on rent
i am not use that properly in my business
i am still claim depreciation on that property
please guided
4 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 15 March 2019
no you can't as you gave given it on rent and earning it so your income is to be taxed as house property. you can deduction towards municipal taxes paid from the rent rec'd and on balance you can claim 30%STD deduction. if there's any Lin then you can also claim deduction on interest paid upto RS.2lacs
SHIVANI KUDTARKAR
(511 Points)
Replied 15 March 2019
under which head of income you are showing rent income..it should be under income from house property..and if so you must have claiming standard deduction of 30% of net annual value...then you can not claim depreciation...
under which head of income you are claiming depreciation
under which head of income you are claiming depreciation
Mitesh Patel
(75 Points)
Replied 15 March 2019
sir/mam
i am not salaried person
i am proprietor in textile business
but i am not use this property in my textile business
so i claim depreciation?
i am not salaried person
i am proprietor in textile business
but i am not use this property in my textile business
so i claim depreciation?
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 15 March 2019
no you can't claim depreciation since you are not using it for business purpose
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