Disclosure and depreciation on leasehold land
This query is : Resolved
18 August 2011
Fact: My Auditee has acquire a land on lease for 30 years from M P Govt and construct factory building theiron.
Que.
1. Disclosure under Sch. VI for Leasehold Land and Building
2. Depreciation rate on Leasehold land and Building under Income Tax Act and Company Act
Que.
1. Disclosure under Sch. VI for Leasehold Land and Building
2. Depreciation rate on Leasehold land and Building under Income Tax Act and Company Act
18 August 2011
Land never depreciates.
show at purchase price or fair value.
show at purchase price or fair value.
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