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depreciation on residential house
I have three houses,one for my residential purpose, another for business purposes,and third one I given for let out, please specify depreciation rates for three properties
Replies (2)
when you use for own purpose the annual value is nil
when you use for business purposes annual value is nil "I think ''
when you use for residential purpose we can claim 30 percentage standard deduction
when you use for business purposes annual value is nil "I think ''
when you use for residential purpose we can claim 30 percentage standard deduction
residential purpose-5%
business purpose-10%
let out property- 30% exemption from gross Annual income..
business purpose-10%
let out property- 30% exemption from gross Annual income..
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