Depreciation on land


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
14 December 2011 Depreciation on land is being wrongly claimed as per income tax act how should we explain to income tax deprt in scrutiny case that this depreciation amount should not be added back to our income,

clarify this urgently

14 December 2011 No depreciation is allowed on value of plot of land under sec 32 of income tax act,1961.However if some superstructure is built up on such land than value of land can be included in building and you can claim depreciation saying that bifurcation of value of land and building is not possible

14 December 2011 Agreed with expert. No depreciation is allowed on open land.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
14 December 2011 we want to know that if its wrongly done than what justfication can be given to avoid addition of depreciation in income.

14 December 2011 No justification to avoid addition. only if a building is constructed than only you can claim otherwise addition will be sustained.

14 December 2011 You can give suitable explanation for avoiding penalty only. No explanation for addition.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details