Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2010 I have purchased Building which costs Rs 70 Lakhs which includes both Land & Building Cost??
Now i want to claim depreciation on Building,
How can i segregate the value to arrive at building cost as depreciation is not allowed on Land Value??

CA Ankit Gulgulia (Jain)

CA Ankit Gulgulia (Jain) (Expert)
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20 December 2010 It is Generally Suggested that in such cases the assessee should draft a Purchase Deed disclosing Seperately Both the Components.

You can Use a Suitable Basis for its segregating the Components.

One of them Can Be Fair Market Value (Weights).

Regards
Ankit Gulgulia