Purchase of residence house show in itr

Hello, 

If you are asking about Indian income-tax/tax-audit treatment for FY 2023–24, where an assessee purchased/constructed a residential house for personal use, the treatment would generally be:

1. Not a business asset: The cost should not be debited to the fixed-assets block used for business depreciation, because the house is being used personally and is not used for the assessee's business/profession.
2. Capital/personal account: The expenditure can be recorded as a personal capital asset / drawings/ geometry dash (capital account) in the books, depending on the assessee's accounting system.
3. If the house is shown separately as a non-business fixed asset/personal immovable property, it should be clearly identified as personal-use property, with no depreciation claimed under the Income-tax Act.