Is the Lift , D.G setWater pumps provided by builder are the assets of Housing Society or are they included in cost of land & bulding and no need to depreciate yearly.
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Query-Depreciation on lift
Replies (4)
They are seperate n can operate independently...........it should not be included in d cost of land....contrary should be shown seperately n must also be depreciated.
Views of others are also welcomed n correct me if m wrong.
Hi Tushar
I think u are correct and these items should be depreciated as machinery.
Lift and Dg set needs to be capitalised separately as they can operate separtely as rightly said by Tushar and Deepak.
Its not right to capitalise the same with cost of building as life these assets are very much less than the life of buliding.
tushar is correct
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