Is Depreciation Allowable on a Building Given on Rent during the Year ?

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It happens that a business entity having certain buildings as business asset , is rented out during the year . Say a business entity is having two buildings , used for its business . During the Fy 2014-15 , one of the building was given on rent from , say 1st January 2015. The question related to depreciation on the building which is rented out are :

  1. Whether the business entity can claim depreciation ?
  2. If yes, whether the depreciation is allowed upto 31st December or 31st March ?

The aforesaid question was raised by a reader who asked paid questions.

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