1. land is not a depricaiable asset...

2. life is not fixed...

Land generally has appreciated value as compared to other assets 

agreee with shivram

1.Cannot determine useful life of land.

2.Land is such an asset whose value goes on increasing, unlike other assets whose value gets reduce over a period of time. depreciation is charged on assets so that when in future , asset will be replace we will have money to purchase new asset. But in case of land this not happens that is why depreciation is not charged on land

Moreover Appreciation is not provided for because it will amount to Notional Profit.

If depriciation is not charged on Land then why is depriciation charged on Building??
 

As per ur question Nikita building build have its life as u could see building becoming old and some may fall due to building becoming old and rusty it is something which is attached to land but it is different from land becoz building has its life which stand strong for several years say 25 yrs but land will be there and will live longer as land would not fall like building LOL

Nikita, I was myself a bit confused regarding this thing a few months ago. I raised the same query to my Accounts teacher. He just gave me a simple explanation:

Consider this place where you are standing right now! I tell you this is the place where the ROYAL PALACE of AKBAR used to be centuries ago!

Now do you see the Palace? No!

and the LAND?  Yes!

That's it!

years have gone...building has demolished (lost it's value) but the land has remain intact!! 

I hope this clear's your doubt to some extent!

Depreciation is charged on the assets for which the useful life can be estmated...
so that the value of particular asset is charged to P&L a/c by spreading the value of asset among the no. of years for which the asset will be used, so the whole burden of asset doesnt fall on a particular year..

Useful Life of a Land cannot be estimated.. Hence, depreciation cannot be charged on land

Depreciation can be charged on land if it has limited useful life. So you have to first proove that there is limited useful life for land and claim depreciation.

depreciation is charged on those assets which have a fixed life but land doesnt have a fixed life thats why depreciation is not charged on land !!

Depreciation is charged on the basis of matching concept & to apply matching concept one need to know the life of assets because life of land can not be estimated generally therefore depreciation on land is not charged generally.

However if you  hold land in your business n know the period for which you will use land for your business purpose then Depreciation is charged on land.

Conclusion-

Depreciation is charged on land if you can estimate life of land for your business purpose.Its matching concept nothing else.

thanks all of your valueable answer 

Agree with Swapnil Jain. Very good comment and proved his answer with a very good example....

Keep sharing

For calculating depreciation, you need to know the life of the assets. i.e. How long the asset will be used. As far as land is concerned there is no estimated life available. Hence we cannot depreciate land.