Assets constructed on lease land
This query is : Resolved
Rajiv Malkan
(Querist)
13 October 2011
Hi, Could any one answer on if I have constructed Building / made a road on lease land. The lease is for 20 years and has renewable clause. Should I charged building, roads at 20 years. If yes than what happens if I renew lease since by that time, Building and Road would be fully depriciated.
13 October 2011
the lease hold improvement shall be depreciated with in 20 years. in case the lease extended, the assets can be revalued and can be further depreciated.
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