AS 16 Borrowing Costs
This query is : Resolved
22 December 2008
Is Land a Qualifying asset as per AS 16.
Has the council of ICAI issued any expert opinion on this regard
Has the council of ICAI issued any expert opinion on this regard
22 December 2008
no, it is not qualifying asset as does not take substantial period to built.
22 December 2008
Suppose, in a certain case, land should be kept for a substantial period of time to make it ready for a certain purpose.Then, will land become a qualifying asset?
22 December 2008
no kishen. land is as such usable and does not take substantial time to become usable and salable hence it can not become a QA.
what plea you are giving for making it a qualifying asset?
what plea you are giving for making it a qualifying asset?
31 December 2008
In case of Real Estate developers time is required to prepare land,dividing into plots,piling etc.In this case will land become a qualifying asset
Similarly in case of agricultural operations,land needed to be kept for getting ready for cultivation
Considering these specific cases is land a qualifying asset
Similarly in case of agricultural operations,land needed to be kept for getting ready for cultivation
Considering these specific cases is land a qualifying asset
28 November 2009
How land can be qualifying assets. Once you will buy the land its your assets only
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Taxable or Tax exempt
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Condonation . E-Verification of last year return .
- TDS Return Q1 FY 2026-27
- Capital gain on sale and purchase of plot
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
