deemed building
This query is : Resolved
03 December 2009
hello to experts my question is about deemed assets
as per incoem tax if any construction get made in on the lease land which enhance the capacity of bussiness than that will be deemed as building and depriciation will be allowed .
supose after construction and before fuly claim of dep on such building the lease ageement desolve than what will be treatment of such deemed building.
can the person who get constructed building get benifit for remaning value
as per incoem tax if any construction get made in on the lease land which enhance the capacity of bussiness than that will be deemed as building and depriciation will be allowed .
supose after construction and before fuly claim of dep on such building the lease ageement desolve than what will be treatment of such deemed building.
can the person who get constructed building get benifit for remaning value
04 December 2009
yes dear it is very much as dep is allowed not only on deemed building but also to deemed owner,but if lease agreement desolved and leasee received any sum then further dep is allowed subject to sec 50.
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