Sunil acquired a building for ₹ 15 Lacs in June, 2017 in addition to cost of land beneath the building of ₹ 3 Lacs. It was used for personal purposes until he commenced business in June, 2020 and since then it was used for business purposes. The amount of depreciation eligible in his case for the AY 2021 -22 would be:
A. ₹ 1,50,000
B. ₹ 75,000
C. ₹ 37,500
D. ₹ 1,21,500
Answer:D
Sunil acquired a building for ₹ 15 Lacs in June, 2017 in addition to cost of land beneath the building of ₹ 3 Lacs. It was used for personal purposes until he commenced business in June, 2020 and since then it was used for business purposes. The amount of depreciation eligible in his case for the AY 2021 -22 would be:
A. ₹ 1,50,000 B. ₹ 75,000 C. ₹ 37,500 D. ₹ 1,21,500