What is the Depreciation rate for a building which is used as jewellery showroom..... it is 10% or 5% ?
4 Replies
Z
( )
(2965 Points)
Replied 22 November 2011
5% is the rate of depriciation for RESIDENTIAL buildings ONLY (like employer has made his property available to employee for living)
Otherwise rate is 10% (except for infrastructure facility or temporary errections on which 100% depriciation is allowed)
Since showroom is directly in use by business and it does not fall in category of 5% or 100% , therefore in my opinion , applicable rate of depriciation should be 10%
pragadeeshkanna
(searching)
(281 Points)
Replied 22 November 2011
but for office buildings it is only 5% rite?
Z
( )
(2965 Points)
Replied 22 November 2011
5% is only for residential building
10% is allowed for other office building
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