Depreciation on Land And Building
This query is : Resolved
Guest
Guest
(Querist)
18 December 2010
A Company purchased a building. Agreement for purchase does not include a separate value for Building and for land on which it is constructed. Only one combined value is mentioned in the agreement. Now my query is that,for income tax purpose, on what amount i should claim a depreciation? on total agreement value or on only the value on building and not land? if only on value on building, then how will i bifurcate the value of land and building?
is there any case law for the same?
pls provide the link
is there any case law for the same?
pls provide the link
18 December 2010
Duplication
https://www.caclubindia.com/experts/depreciation-on-land-and-building-544060.asp
https://www.caclubindia.com/experts/depreciation-on-land-and-building-544060.asp
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