depriciation in co law

A privated limited company not carrying any business activity has let out its building on rent. If the company is liable to provide depriciation under companies act or not, because under income tax the rent will be assessed under income from house property and against this head no claim for the depriciation will be admissible. But due to providing depriciation under companies act the value of the property will be depriciating every year.

Also guide in either of the situation if any provision for the deferred tax / liability is to be provided.

Thanks