Depreciation
This query is : Resolved
20 September 2016
Land and building is purchased for Rs 1.9 crore.The agreement clearly says land value is Rs 1.4 crores and the balance 50 lakhs shall be the building value.On what amount depreciation shall be allowable?1.9 crores total or only 50 lakhs?
20 September 2016
depreciation is only on building. Land carries NO depreciation, whether or not the same is shown separately in the agreement
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