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Depreciation.....

453 views 4 replies

Dear Friends,

 

Please let me know , how to calculate Lease hold land depreciation..

Ex:- Lease period - 50 years,  Lease amount for 50 years  Rs. 5,00,000/- paid at a time.

Replies (4)

SIR, DO U MEAN, DEPRECIATION FOR LAND...IT IS NOT PERMISSIBLE UNDER INCOME TAX...

dear sir

first of all land is not a deprciable asset.secondly lessor is entitled to claim depreciation in case of lease.

Depreciation on Land is not permissible under the IT Act.
Sorry Tarun ,but i think in case of finance lease the leasee can charge depreciation in his books.


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