PURCHASE SHOP REGARDING
This query is : Resolved
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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
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
16 February 2024
Depreciate only construction cost of building. Land not depreciable as per income tax.
17 February 2024
THANKS YOU VERY MUCH SIR
18 February 2024
You are welcome..
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