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PURCHASE SHOP REGARDING

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(Querist)
15 February 2024 PURCHASE LAND 2020-21 PURCHASE VALUE 35 LAC...


LAND RECONSTRUCATION COMPLETE DEC 2023 TOTAL CONSTRUCATION EXPENSES 15 LACS

THEN WAT IS DEPRCIATION RATE IN FIN YEAR 2023-2024
AND HOW TO CALCULATE DEPRICIATION ON THIS ASSET ON THE BASIS OF TOTAL VALUE 35+15 OR ONLY 15 LAC
PLZ REFER INCOME TAX SECTION ALSO
THANKS IN ADVANCE
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 February 2024 Depreciate only construction cost of building. Land not depreciable as per income tax.
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ABHI KUMAR

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ABHI KUMAR (Querist)
17 February 2024 THANKS YOU VERY MUCH SIR



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 February 2024 You are welcome..
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