Depreciation for road
This query is : Resolved
VISALAKSHI
(Querist)
23 April 2018
Whether the road area forming part of a flats association an asset, if yes what is depreciation applicable??
Guest
Guest
(Expert)
23 April 2018
In income tax law:
Buildings which are used mainly for residential purposes except hotels and boarding houses: 5%
"Buildings" include roads, bridges, culverts, wells and tubewells.
Buildings which are used mainly for residential purposes except hotels and boarding houses: 5%
"Buildings" include roads, bridges, culverts, wells and tubewells.
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