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Depreciation on land & building

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(Querist)
06 August 2013 Can we charged depreciation on land or building? If Yes what rate of depreciation?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
06 August 2013 If land & building is shown as a consolidated amount in the books, then depreciation is applicable.

Depreciation under Income Tax is as under:

Residential Building - 5%
Other Building - 10%
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
06 August 2013 agree with expert.
but you in Q or word is used. So I am taking land and building separately.
if separate then as per AS-6 if land has limited time value then depreciation can be used else no depreciation on land.
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