Dear Sir / Madam,
Please provide us with better knowledge against the below query.
we are in a Manufacturing Unit and we have rented a Plot which is 40 Km from our Company in this plot we are investing funds for New Sheds / Construction work & purchase of Machinery for future business purposes.
So whether we can claim the expenses which are occurring on the above rented plots? any limitations are there to invest the amount in rented Property? whether we can construct a rented Property ? How can it be claimed?
Appreciate your feedback Sir...
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Rented Property
Replies (2)
Quick Summary
You can claim depreciation of whatever expenses you have incurred as an improvements or to make it usable for business purpose, even if it is rented plot. Only the rent expenses of leased premises has to be expensed as per IndAS 116 if you are a company.
Regards,
Manoj
This is not investment property. Treat it like ppe. Your company could be 50 km away but ppe is ppe and your main office is administration charged by AS stamdard
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