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Depreciation on land

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Querist : Anonymous

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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
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Darshit Joshi

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Darshit Joshi (Expert)
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
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Ratan Sharma

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Ratan Sharma (Expert)
14 December 2011 Agreed with expert. No depreciation is allowed on open land.
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Querist : Anonymous

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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.
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Darshit Joshi

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Darshit Joshi (Expert)
14 December 2011 No justification to avoid addition. only if a building is constructed than only you can claim otherwise addition will be sustained.
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Ratan Sharma

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Ratan Sharma (Expert)
14 December 2011 You can give suitable explanation for avoiding penalty only. No explanation for addition.
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