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leasehold property claimed under block of assets methods

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 June 2010 Depreciation has not been charged on leasehold land, and now the assessee is selling the property,
can he claim it under block of assets method.
weather it is long term or short term capital gain.
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CA Ravi Kumar Murugesh

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CA Ravi Kumar Murugesh (Expert)
09 June 2010 I dont get that how one can sell leased land?
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
09 June 2010 DEPRECIATION IS NOT PROVIDED AT LAND AT ALL.
LEASEHOLD LAND CAN BE SOLD /TRANSFER .
LONGTERM OR SHORTERM IS DEPEND ON PERIOD OF HOLDING.
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taxindiaconnect

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taxindiaconnect (Expert)
10 June 2010 Just to correct the reply of BK, Depreciation is not available on lease hold land under the Income tax act. For rest of the reply i agree with him
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
11 June 2010 Please check my reply, I also denying depreciation
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