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Deductions & credits
I don’t know anything about section 48, but your accountant is correct about section 25D. The 30% credit for solar power is available to any dwelling unit that you use as a residence, it does not have to be your main residence. However, if it is also used for business, you can only claim the portion of the credit that the property is used for personal use. If the property is only used for personal use 10% of the time, then you would apply 10% of the cost toward the credit and get 30% of the 10% back on your tax return.
August 20, 2022
7:35 AM