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??
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??
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
You can Use a Suitable Basis for its segregating the Components.
One of them Can Be Fair Market Value (Weights).
Regards
Ankit Gulgulia
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