Dear Friends,
The premium paid on acquiring a Leasehold land is amortised over the period of lease. Is the amortised amount (ala depreciation) is allowed as deduction in computation of Income under the Income tax Act? Please share any decided cases on this matter.
Thanks & regards
Swati
| Originally posted by :swatikrishnan | ||
| " | Dear Friends,The premium paid on acquiring a Leasehold land is amortised over the period of lease. Is the amortised amount (ala depreciation) is allowed as deduction in computation of Income under the Income tax Act? Please share any decided cases on this matter.Thanks & regardsSwati | " |
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