Land depreciation

In my view, depreciation is not calculated on land because it has unlimited useful life. Depreciation is aimed at spreading the cost of an asset over its economical useful life. But in case of land we can't estimate its useful life, hence its not possible to calculate depreciation on land. However, if any land improvement cost occurs, then such cost can be allocated to its useful accounting periods. Also in case of quarries, land can be depleted. Also AS-6 does not cover land. Let others too comment.

Only if land has limited useful life then you can charge depreciation or amortisation.

For example if you are owning land only for the purpose of extracting some minerals from it and once the complete extraction is done if it is useless then you can charge the cost of land as depreciation for the period estimated to be useful.

if land is lease hold land