Depreciation Buiding WIP
This query is : Open
15 April 2021
Dear Sir,
Proprietor has own building sublet to third party & getting rent on monthly basis. The building has some office space & used by proprietor for his business work remotely done from show room.In financial statement of Proprietor has mentioned Building W.I.P. My query is as below.
1.Can Deprecation be claimed ias per IT ACT if yes what is %.
2. If Building has many floor some are sublet, one space is used by the Proprietor & other are vacant , then Depreciation claim procedure.
regards.
Pramod
Proprietor has own building sublet to third party & getting rent on monthly basis. The building has some office space & used by proprietor for his business work remotely done from show room.In financial statement of Proprietor has mentioned Building W.I.P. My query is as below.
1.Can Deprecation be claimed ias per IT ACT if yes what is %.
2. If Building has many floor some are sublet, one space is used by the Proprietor & other are vacant , then Depreciation claim procedure.
regards.
Pramod
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