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depreciation

This query is : Resolved 

Querist : Anonymous


Querist : Anonymous (Querist)
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?


Land & Building are 2 separate assets.
Building is subject to Depreciation while land is not.
Hence Depreciation is chargeable only on the building.

I agree with Mr Punit


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