Dear Friends,
Please let me know , how to calculate Lease hold land depreciation..
Ex:- Lease period - 50 years, Lease amount for 50 years Rs. 5,00,000/- paid at a time.
Nomula Sreenivasarao (DGM -Accounts) (163 Points)
27 July 2010Dear Friends,
Please let me know , how to calculate Lease hold land depreciation..
Ex:- Lease period - 50 years, Lease amount for 50 years Rs. 5,00,000/- paid at a time.
CA B Anand
(CHARTERED ACCOUNTANT)
(198 Points)
Replied 27 July 2010
SIR, DO U MEAN, DEPRECIATION FOR LAND...IT IS NOT PERMISSIBLE UNDER INCOME TAX...
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 27 July 2010
dear sir
first of all land is not a deprciable asset.secondly lessor is entitled to claim depreciation in case of lease.
CA Namrata ghosh
(CA)
(55 Points)
Replied 27 July 2010
CA Namrata ghosh
(CA)
(55 Points)
Replied 27 July 2010
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