DEPRICIATION
3 years ago
i have constructed a godown and give it on rent to third party, i am claiming standard deduction on rent income generated under head income from house property can i also claim a deprication on godown construction cost.
A.Hi,
Rental property depreciation allows real estate investors to take tax deductions for their property.
It will be your obligation to convince the court as to why your are claiming depreciation value. Further, it'll be the discretion of the concerned authority.
If you like my answer, please give a good review.
Rental property depreciation allows real estate investors to take tax deductions for their property.
It will be your obligation to convince the court as to why your are claiming depreciation value. Further, it'll be the discretion of the concerned authority.
If you like my answer, please give a good review.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
You can try to claim depreciation cost. Rental property depreciation allows real estate investors to take tax deductions for their property. This is done by convincing the IRS that the property in question has a determinable useful life.
If you like my answer, please give a good review.
You can try to claim depreciation cost. Rental property depreciation allows real estate investors to take tax deductions for their property. This is done by convincing the IRS that the property in question has a determinable useful life.
If you like my answer, please give a good review.
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Jagannath S Pawar
Responded 3 years ago
A.Plz approach Chartered accountants in this regard
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