Income tax
This query is : Resolved
14 November 2013
Dear Sir
If Company has constructed the godown for own business on his director's land, can company claimed depreciation on godown as per income-tax act? kindly reply me.
Thanks
Vinod
If Company has constructed the godown for own business on his director's land, can company claimed depreciation on godown as per income-tax act? kindly reply me.
Thanks
Vinod
14 November 2013
No,
The land is owned by director and not by company. so it will not be claimed depreciation.
The land is owned by director and not by company. so it will not be claimed depreciation.
14 November 2013
not claimed as depreciation
14 November 2013
i would respectfully disagree. The depreciation on godown shall be available to the company. Ownership of the land shall have no bearing on it.
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