CBDT Circular Permits 10% Depreciation on Employee Residential Flats Without Specific Conditions or Factory Premises Requirement.

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Full Text of the Document

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....Depreciation @10% on residential flats used for its employees - CBDT Circular dated 12.12.1996 - there was no such restriction in the Circular issued by the Board stating that the benefit would accrue to the assessee only if the residential accommodation is situated within the factory premises nor if the accommodation is provided to all the employees - depreciation allowable @10%....