depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2010
Sir,
We have purchased a land with building in part of the land. How is the depreciation going to be charged on the total value or only on the value of building?
We have purchased a land with building in part of the land. How is the depreciation going to be charged on the total value or only on the value of building?
09 June 2010
Land & Building are 2 separate assets.
Building is subject to Depreciation while land is not.
Hence Depreciation is chargeable only on the building.
Building is subject to Depreciation while land is not.
Hence Depreciation is chargeable only on the building.
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10 June 2010
I agree with Mr Punit
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