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Depreciation on building

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12 June 2015 bank purchased building in Nov. 2014 -bank paid rs.60,000 to municipality for their name on PTR -bank destroy building & reconstruction is going on from basement level now the question is 1)what is the effect of charges paid to municipality? 2)is it necessary for bank to charge the depreciation on that charges as building on march 2015? what is account entry & the effect...explain
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Amol S Joglekar

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Amol S Joglekar (Expert)
12 June 2015 the amount of 60,000 be capitalised.
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