Depreciation
This query is : Resolved
21 September 2012
A building purchased by Real Estate co. for Sale it should be treated as Fixed Assets or as Investment.... and whether depreciation Charged on it or not.....
21 September 2012
You are saying building is purchased for sale i.e it is stock-in-trade. So depreciation not allowed on stock-in-trade. so it is not a fixed asset nor investment.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
21 September 2012
If it is purchased for subsequent sale and it is the business of purchasing and selling the properties then will be treated as stock in trade and if it purchased to augment the value of the property and not occupied substantially for use then will be classified as investment property.
21 September 2012
Agreed with the experts
Guest
Guest
(Expert)
21 September 2012
agree with amit
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
