CAN WE CLAIM DEPRECIATION ON LEASE HOLD LAND

1313 views 1 replies

 I HAVE LEASED HOLD PROPERTY OF MIDC LAND FOR 99 YEARS , CAN WE CLAIM DEPRECIATION  ON LAND 

Replies (1)
Indian Accounting Standard 19 on `Leases' provide that in case of an operating lease, the lessor shall be eligible to claim depreciation in respect of leased asset; whereas in a finance lease the lessee becomes the economic owner of the asset and, therefore, should be entitled to claim depreciation on the leased asset.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register