DEPRECIATION FOR LEASED ASSET
This query is : Resolved
Srivathsan
(Querist)
09 June 2010
AN ASSOCIATION HAS TAKEN A RENTED PREMISES FOR THEIR WORKING AND INCUR HEAVY EXPENDITURE FOR RENOVATION AND DECORATION.THESE EXPENSES HAVE BEEN CAPITALISED.CAN DEPRECIATION BE CLAIMED ON IT?
THANK YOU.
THANK YOU.
09 June 2010
Yes, surely they can claim depreciation on leasehold improvements.
CMA RV Padmakumar.A
(Expert)
09 June 2010
Yes for leased building capital exp can can claim depreciation..
Not for any other case...lessor has the right to claim depreciation in all other cases...
Circular no 2/2001 dated 09.02.2001
Not for any other case...lessor has the right to claim depreciation in all other cases...
Circular no 2/2001 dated 09.02.2001
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