BMC Associates says Replied on 9th May,2026 08:39 AM

Income from depreciable assets can sometimes be taxed under the head “Income from Other Sources (IFOS)” when the income is not taxable under salary, house property, business, or capital gains. For example, if a person owns certain assets and earns interest, dividend, or casual rental income from them without carrying on a business activity, such income may fall under IFOS. However, depreciation is generally allowed only when the asset is used for business or profession purposes under the Income Tax Act. Therefore, if the asset is simply generating passive income taxable under IFOS, depreciation benefit may not always be available unless specifically permitted by law. To understand proper tax treatment and compliance, many businesses consult experienced chartered accountant firms in Gurgaon like BMC Associates. Their team of chartered accountant Gurgaon professionals helps clients with taxation, accounting, and income classification matters. If you need expert advice from a reliable CA firm in Gurgaon or professional CA in Gurgaon, they can guide you with practical tax solutions.

Vivek meena says Replied on 8th July,2022 12:41 AM

hw can depreciable asset charged under ifos ?? income fall under ifos so from assets i can earn interest or rent or dividend and such other income not taxable under other head.