Depreciation rate?
This query is : Resolved
07 February 2013
Dear Expert
How to depreciate/amortisize land cost for mining industry?
What is rate of depreciation?
How to depreciate/amortisize land cost for mining industry?
What is rate of depreciation?
08 February 2013
It can be depreciated over the lease period.
08 February 2013
Mr.Kishore,Thanks for your reply.
Can you give source for completing understand.
Can you give source for completing understand.
08 February 2013
There is no specific law prescribed how to depreciate leasehold land. But generally it will be depreciated over its expected economic useful life. If the economic useful life or pattern of getting the benefits is different, then you can choose a different depreciation policy.
08 February 2013
ok.Can we amortisize cost of land used to extract mine products?
08 February 2013
If it is a leased land, then it has to be amortised as discussed earlier.
But if it is a own land, it cannot be amortised.
But if it is a own land, it cannot be amortised.
08 February 2013
If it is a leased land, then it has to be amortised as discussed earlier.
But if it is a own land, it cannot be amortised.
But if it is a own land, it cannot be amortised.
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