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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
