Depreciation on building
Querist : Anonymous
Factory building value is 12300000/-
However certified valuer has valued as
90 Lakh land value and 33 Lakh construction value. My query is weather we need to show only 33 Lakh or full 12300000/- in books of accounts for depreciation purpose as per IT act. Also let me know the percentage of dep on building.
Thanks & Regard
Karan Desai
Querist : Anonymous
Do we need to show both land and construction cost in books if yes weather we can charge dep on land value if how much percentage
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