Land depreciation %
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2012
IF we have purchased land for office use like Warehouse then it is aaplicable or not if aaplicable then how much is aaplicable ?
CA Mahesh Vekariya
(Expert)
21 April 2012
PROVIDE DEPRECIATION CONSTRUCTION MADE ON THAT LAND.
LAND IS NOT A DEPRECIABLE ASSET
RATE OF DEPRECIATION ON BUILDING SHALL 10% AS PER SECTION 32 OF INCOME TAX ACT
LAND IS NOT A DEPRECIABLE ASSET
RATE OF DEPRECIATION ON BUILDING SHALL 10% AS PER SECTION 32 OF INCOME TAX ACT
21 April 2012
No Depreciation on Land
CA PRAVEEN SINGH
(Expert)
21 April 2012
yes agree with above ...
land is not a deprecible assets
land is not a deprecible assets
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