Depreciation on land & building
This query is : Resolved
06 August 2013
Can we charged depreciation on land or building? If Yes what rate of depreciation?
06 August 2013
If land & building is shown as a consolidated amount in the books, then depreciation is applicable.
Depreciation under Income Tax is as under:
Residential Building - 5%
Other Building - 10%
Depreciation under Income Tax is as under:
Residential Building - 5%
Other Building - 10%
06 August 2013
agree with expert.
but you in Q or word is used. So I am taking land and building separately.
if separate then as per AS-6 if land has limited time value then depreciation can be used else no depreciation on land.
but you in Q or word is used. So I am taking land and building separately.
if separate then as per AS-6 if land has limited time value then depreciation can be used else no depreciation on land.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
