CAN ANYONE PROVIDE ME THE CASE WITH RESPECT TO "DEPRECIATION CAN NOT BE CLAIMED ON RENTAL PROPERTY". PLEASE PROVID. ITS URGENT
2 Replies
CA Mukul Mittal
(CA in practice)
(384 Points)
Replied 03 June 2010
if the rented property is related to ur business then dep. should be charged
in case house is rented then no dep.
Krishna Killa
(Student)
(70 Points)
Replied 17 June 2010
the fact that deduction u/h house property is exaustive is written in the law itself by indicating the extent of deduction available......
the rate of 30% dedn is embeded to include repairs & miaintanence as well as depn......
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