Perpetual Leasehold property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2010
Dear Experts,
If any Pvt Ltd Co takes an building on perpetual lease, then
1) how to calculate deprecitaion on the same?
2) How to disclose the same in balance sheet?
3) How to disclose the same in the auditors report?
An early reply to the above query is highly appreciable.
Thnx in advance.
If any Pvt Ltd Co takes an building on perpetual lease, then
1) how to calculate deprecitaion on the same?
2) How to disclose the same in balance sheet?
3) How to disclose the same in the auditors report?
An early reply to the above query is highly appreciable.
Thnx in advance.
02 September 2010
1) Since perpetual, no depreciation necessary.
2) This will be classified under Land & Building. Nature of the asset can be disclosed with a note that the lease is perpetual.
3) Auditors need not disclose anything with respect to this.
2) This will be classified under Land & Building. Nature of the asset can be disclosed with a note that the lease is perpetual.
3) Auditors need not disclose anything with respect to this.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- LTCG for Assmt year 26-27
- Long Term Service award taxability in hands of company
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
