How to Calculate Depreciation on Lease Property ??
Menu
Depreciation on Lease Property
Replies (3)
Lessee cannot claim depreciation under section 32 in the absence of legal ownership
Section 32 allows depreciation on buildings, etc., which are owned by the taxpayer and used for its business and profession.
YES DEPRECIATION CAN BE CLAIMED PROVIDED ITS NOT A LEASED PROPERTY.
It's a Shop Premises & lease under agreement for a period of 30 years .
Recent Threads
- Foreign professional income.
- RCM Paid by NBFC
- TDS not deposited by the deductor
- Electricity bill check online – need guidanc
- Assessmet Procedure us 147
- My deduction under 80 g is wrong and I should have
- GST utility 3.2.3 json not generating
- SCh FA declaration - guidance on the filling of th
- Foreign income and bank account
- Unorganised chit amount
Related Threads
CAclubindia
